Gold nears $4,400 after weak US retail data hits the dollar
Gold climbed to within striking distance of $4,400 an ounce as weaker US retail sales and consumer sentiment data dragged the dollar lower, making bullion cheaper for overseas buyers.
Gold Market
Gold climbed to within striking distance of $4,400 an ounce as weaker US retail sales and consumer sentiment data dragged the dollar lower, making bullion cheaper for overseas buyers.
Chinese retail gold investment totalled 107 tonnes in Q2 2026, down from Q1's record but still the third-highest Q2 since 2010. When adjusted for a 29% rise in the local gold price, it set a new Q2 record.
Gold moved toward $4,400 an ounce after weaker US consumer sentiment and retail sales figures lowered the perceived risk of immediate Federal Reserve interest rate hikes.
Gold prices stabilised after an early pullback on Friday, supported by cooling US inflation numbers that reduced expectations of an imminent interest rate increase.
Spot gold rose above $4,320 per troy ounce as China's central bank extended its official reserve accumulation to 21 consecutive months alongside rising investment demand.
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Official sector demand has moved from a rounding error to a structural pillar of the gold market.