Gold Price Today: US President Donald Trump has escalated the tariff war, announcing that the US will now impose a 50% tariff on copper imports and certain goods from Brazil. This new duty will come into effect from August 1st.
On Thursday, July 10, 2025, gold prices saw a slight increase once again. Weakness in the dollar internationally and a decline in US bond yields led to a rise in the demand for gold. This has impacted both the global market and the Indian market.
As of 8:55 AM today, the spot gold price rose by 0.1 percent, reaching $3316.77 per ounce. Meanwhile, US gold futures saw a 0.2 percent increase and were trading at $3325.60 per ounce.
What is Today's Gold Rate in India?
In the Indian market today, Thursday, there was no significant change in gold prices. According to Goodreturns, a major platform in the country:
- 24 Carat Gold: ₹98,170 per 10 grams
- 22 Carat Gold: ₹89,990 per 10 grams
- 18 Carat Gold: ₹73,630 per 10 grams
These rates may vary slightly in different states and cities, but these are the approximate prices.
Gold Strengthened Due to Dollar Weakness
Nicholas Frappell, Global Head of Global Refining Company ABC Refinery, stated that gold has technically moved above a b support level due to the weakening of the dollar index.
The dollar index saw a 0.2 percent decline, making gold cheaper in other currencies. This led investors worldwide to show renewed interest in gold.
The decline in US Treasury yields was also a major factor. The yield on 10-year bonds has fallen from recent highs, reducing the cost of holding gold and benefiting investors.
Impact of Trump's Tariff War
US President Donald Trump has again announced the escalation of the tariff war. He announced the imposition of a 50 percent tariff on copper imports and goods from Brazil to the US. This new duty will come into effect from August 1st.
Furthermore, the US has signaled the imposition of tariffs on seven other small trading partners.
Market experts believe that the tariff war could increase volatility, and in such times, the demand for safe-haven assets like gold increases rapidly.
The Impact of Tariffs on the Market is Gradually Decreasing
Matt Simpson, Senior Analyst at City Index, said that the impact of tariffs on the market is not the same as before. Investors have become more cautious and adapted to this issue.
He said that this is now a period of tariff fatigue, meaning that the impact of repeated announcements is decreasing.
What Does the Price Movement in India Say?
According to Aksha Kamboj, Vice President of the India Bullion and Jewellers Association, gold is finding b support around $3300 per ounce globally.
She said that prices may remain stable in India due to seasonal demand and continuous purchases by the central bank from China.
However, the strength of the dollar may also limit the pace of gold.
What Does the Technical Level in the Domestic Market Say?
Rahul Kalantri, Vice President of Mehta Equities, said that high fluctuations are currently being seen in the movement of gold.
According to him:
- Support in Dollars: $3305 to $3285 per ounce
- Resistance: $3340 to $3365 per ounce
- Support in India: ₹96190 to ₹95880 per 10 grams
- Resistance: ₹96950 to ₹97380 per 10 grams
Therefore, prices will fluctuate, but there is currently no indication of a major decline or surge.
