Gold price August 4 2026 spot $4,068 per ounce and India ₹14,390 per

The spot price of gold slipped to $4,068.41 per ounce at 8:05 a.m. ET on August 4 2026, a 0.07 % decline from the previous close of $4,071.11 [2]. In India’s Gurgaon market, 24‑karat gold was quoted at ₹14,390 per gram, while 22‑karat fetched ₹13,181 per gram on the same day [1]. The modest dip comes as gold remains well below its 52‑week high of $5,477.79, underscoring a broader pullback after a year‑long rally of 21.2 %.

Market context and drivers

Gold’s price movement on August 4 was modest, reflecting a combination of lower inflation expectations and a resilient U.S. dollar that typically pressures the metal’s appeal. The 0.07 % dip aligns with a 0.05 % rise over the prior week and a 2.56 % decline from the month‑ago level of $4,175.16 [2]. Analysts cite inflation outlook, central‑bank policy, and geopolitical risk as primary levers, though no single factor was singled out as the cause of the day’s change [2].

In India, the Gurgaon rates of ₹14,390 for 24‑karat and ₹13,181 for 22‑karat per gram represent the latest market quotes, with a tola (12 g) of 24‑karat gold costing roughly ₹1,72,683 [1]. These figures are consistent with the broader national trend where gold prices have risen sharply over the past year, mirroring the global 21 % gain, but remain subject to local taxes (3 % GST) and varying hallmarked premiums [1].

Market reaction

The slight dip in spot gold left major equity indices largely unchanged, while U.S. Treasury yields edged higher as investors shifted from safe‑haven metals to yield‑bearing assets. The U.S. dollar index held steady, limiting further downside pressure on gold. In the Indian market, the high local price sustains demand for physical gold as a hedge, especially given the ongoing GST and PAN reporting requirements for purchases above ₹2 lakh [1].

What to watch

• Upcoming U.S. CPI release (scheduled for mid‑August) that could reshape inflation expectations and influence gold’s safe‑haven demand.
• The Reserve Bank of India’s next policy meeting, where any change in repo rates may affect rupee‑denominated gold pricing.
• The 52‑week low level of $3,314.92; a sustained breach could signal a deeper correction in the metal’s rally.

Gold’s current price, while modestly lower than yesterday’s close, remains far from its recent peak, leaving room for further volatility as macro data and central‑bank actions unfold.