Gold and silver rates climbed in domestic markets on Monday, August 4, with MCX Gold October contracts up 0.34% and MCX Silver September contracts up 0.47%.
August-4, 2025: Gold and silver prices rose in the morning session on Monday, August 4, supported by a decline in the dollar index and ongoing tariff uncertainties.
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The MCX Gold October contracts traded at an increase of 0.34% to ₹1,00,090 per 10 grams, while the MCX Silver September contracts increased by 0.47% to ₹1,10,775 per kg around 9:15 AM.
The dollar index declined by over 0.50% to 98.60.
Apart from the dollar’s decline, gold is also being supported by persistent tariff-related uncertainties. Last week, US President Donald Trump announced tariffs on dozens of countries, even as negotiations continue.
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This aggressive stance has fueled fears of rising inflation and slowing economic growth in the US, with potential ripple effects on the global economy.
In other news, the US job market is showing signs of easing, which has raised expectations of a rate cut by the US Federal Reserve in September.
Data released by the Labor Department’s Bureau last Friday indicated that US job growth slowed more than expected in July.