Unemployment Rises To 4.2% Amid Gold Price Surges Across India

Gold prices surged sharply across global markets following weak U.S. labor data that revealed slowing job growth and rising unemployment, raising concerns about economic vulnerabilities and prompting expectations of Federal Reserve rate cuts. The U.S. labor report showed only 73,000 jobs added in July, well below forecasts, and a rise in unemployment to 4.2%, leading markets to price in a 75% chance of a rate cut at the Fed's September meeting. This economic uncertainty drove investors to seek safety in gold, which jumped substantially in India and Hyderabad, with prices rising by several hundred rupees per 10 grams and silver also rallying. The dollar's weakening and dovish comments from Federal Reserve officials further boosted gold's appeal as a hedge against volatility and currency fluctuations. Additionally, U.S. President Donald Trump's recent trade policies and tariff threats contributed to currency pressure on the Indian rupee, supporting the precious metals rally. Overall, gold’s safe-haven status is reinforced by the combination of disappointing U.S. employment data, expectations of monetary easing, and geopolitical trade tensions.