what is the price of gold today 24 carat : July 10, 2025
A weak dollar and worries over the trade war caused gold prices to rise on the MCX; August contracts were up 0.12% at ₹96,580 per 10 kilos. Gold became less expensive globally as the dollar index dropped by 0.30%. Trump’s tariffs on Brazil exacerbated trade tensions.
Gold price today: As rates increased on the MCX Thursday morning,gold prices were underpinned by the dollar’s weakness and mounting worries about a global trade war. Around 9:10 AM,MCX Gold August 5 contracts were up 0.12% at ₹96,580 per 10 grams.
Also Read : what is the gold price today 24 carat : July 8, 2025
Gold became more affordable in foreign currencies as the dollar index fell by roughly 0.30 percent.
Gold prices were also bolstered by trade war anxiety.
US President Donald Trump imposed a 50% duty on Brazilian imports on Wednesday, effective August 1, further escalating the trade battle.
On Wednesday,Luiz Inacio Lula da Silva,the president of Brazil,pledged to reciprocally confront Donald Trump’s import taxes.
As Trump’s tariff actions have increased the danger of inflation,the minutes of the Federal Reserve’s June 17–18 meeting revealed that most Fed officials supported lowering rates later this year.
To determine monetary policy,the US Federal Open Market Committee (FOMC) will convene on July 29–30.
Gold prices are finding support around the $3,300 per ounce level globally,according to Aksha Kamboj,executive chairperson of Aspect Global Ventures and vice president of the India Bullion and Jewellers Association.This is because Federal Reserve officials are still unsure about the extent of interest rate cuts anticipated in 2025.
“The non-yielding yellow metal may continue to be hampered by prolonged high interest rates.However,a price floor is being provided by the Chinese central bank’s ongoing purchases,which have been in place for eight consecutive months,as well as seasonal demand fueled by domestic holidays.However,a strengthening US currency could limit any gains,” Kamboj stated.
