Gold prices climbed sharply, driven by a softer U.S. dollar, bond market volatility, and renewed concerns over U.S. government debt surpassing $40 trillion. The Treasury's expanded buyback program for long-dated Treasurys weakened the dollar further, supporting bullion demand. Central bank gold buying remains a structural tailwind, though analysts note potential headwinds from elevated energy prices and rising Treasury yields.
Gold posted its strongest week of the year as markets scaled back expectations for a Federal Reserve rate hike following softer-than-expected inflation and payrolls data. The reduced probability of further tightening lowered the opportunity cost of holding non-yielding gold, supporting price recovery. Technical breakout above the 50-day moving average and a break in the pattern of lower highs added momentum to the move.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Gold | China | FOB | USD 4,401.40/Ounce | August 2026 |
| Gold | India | CIF | USD 4,401.40/Ounce | August 2026 |
| Gold | USA | CIF | USD 4,401.40/Ounce | August 2026 |
| Gold | Germany | CIF | USD 4,401.40/Ounce | August 2026 |
| Gold | Australia | CIF | USD 4,401.40/Ounce | August 2026 |
| Gold | China | FOB | USD 4,094.52/Ounce | July 2026 |
| Gold | India | CIF | USD 4,094.52/Ounce | July 2026 |
| Gold | USA | CIF | USD 4,094.52/Ounce | July 2026 |
| Gold | Germany | CIF | USD 4,094.52/Ounce | July 2026 |
| Gold | Australia | CIF | USD 4,094.52/Ounce | July 2026 |
Stay updated with the latest Gold prices, historical data, and tailored regional analysis
In the USA, the average price of Gold rose about 7.5% during the first half of Q3'26, from ~USD 4,094.52/Ounce (CIF) to around USD 4,401.40/Ounce. Prices held steady early in the quarter, then climbed as investors moved into gold ETFs and a weaker dollar made gold cheaper for overseas buyers. North American gold ETFs took in 53 tonnes, bringing regional flows back to positive for the year. Concern that the US Treasury's expanded bond buybacks were an attempt to hold down yields also boosted safe-haven demand. Later in the quarter, the Federal Reserve raised interest rates and signalled more hikes. Higher Treasury yields, a stronger dollar and rising oil prices then pushed gold lower. In India, physical demand weakened. The import duty on precious metals rose to 15%, making gold more expensive for local buyers, and gold imports fell by mid-quarter. High local prices also reduced jewellery buying.
Analyst Insight
According to Procurement Resource, in the near term, gold prices are likely to stay volatile under pressure from interest rates and the dollar, while central bank and Chinese buying should limit sharp declines.
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In China, Gold prices averaged ~USD 4,593.66/ounce in May and ~USD 4,290/ounce in June, showing a ~6.6% decrease. India recorded an average Gold price of ~USD 4,593.67/Ounce in May, which declined to ~USD 4,290/Ounce in June. The decline reflected stronger US interest-rate expectations and a firmer dollar, which reduced the appeal of non-yielding gold assets. North American gold ETFs recorded significant outflows during Q2’26 as higher real yields and changing Federal Reserve expectations weakened investment interest. On the supply side, mine production increased, while recycled gold declined as consumers retained holdings despite elevated prices, keeping overall supply broadly balanced. Global gold demand remained stable at 1,269 tonnes, while OTC demand reached 327 tonnes, supported by Asian investors. India’s demand remained comparatively resilient, with physical and investment interest continuing despite elevated prices. China also received support from low domestic interest rates, property market weakness, and gold’s role as a store of value. Overall, Asian buying partly offset weaker Western investment flows and limited the downside pressure on prices.
Gold is most utilised in the jewelleries. In its pure form, it appears as a bright, slightly reddish yellow metal. It is soft, malleable, and ductile in its pure form. Gold, a transition metal, is one of the least reactive chemical elements, which further remains solid under standard conditions.
Au
Jewellery, Dental Filling, Electronic components, Drugs and nutrition, Cuisine
New Gold Inc, Barrick Gold Corporation, AngloGold Ashanti Limited , Harmony Gold Mining Company Limited, NOVAGOLD Resources Inc, Gabriel Resources Ltd. , Golden Star Resources Ltd., Freeport-McMoRan Inc. (FCX)
CurrencyUS$ (Data can also be provided in local currency)
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Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Gold is basically extracted by crushing the ores and extraction of metal (mechanical, amalgamation, or cyanidation), followed by electrolytic refining or chemical refining (use of chlorine or treatment with either hot nitric or sulphuric acid).
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