Indian Gold Prices Soar as Festive Demand Boosts Bullion Sales

Gold prices in India rose significantly on September 4, fueled by demand during Janmashtami. The increase comes as the festive season boosts sales of bullion. On a global level, gold is also benefiting from eased expectations regarding the US Federal Reserve's interest-rate trajectory.

The MCX performance shows that gold prices continued their strong recovery on Friday, with domestic bullion rates rising sharply amid renewed investor demand. The rally is being supported by softer US rate expectations, a weaker dollar, and lower Treasury yields, which have improved the appeal of gold as a non-yielding asset.

Gold had already gained strongly in the previous session, with international bullion prices rising around 2% as markets reassessed expectations for Federal Reserve policy. Investors are now focused on the US August jobs report due later today, which could provide fresh clues about the Fed's next interest-rate move.