Welcome to Mina Sky Jewellery’s gold market update for Monday August 3. The new month opens on a bright note. Gold is steady near $4,070 per ounce as peace hopes bloom — the US has paused its planned airstrikes, talks with Iran may begin this afternoon, and ships are moving through the Strait of Hormuz again. Prices remain lovely and attractive, making this a beautiful moment to start August with something special. Here is our fresh and friendly guide.
Today’s prices:
24K: ~$130.75/gram | 22K: ~$119.85/gram | 21K: ~$114.40/gram | 18K: ~$98.05/gram
The good news this weekend: The US called off major planned airstrikes after its allies asked for calm, and President Trump says talks with Iran begin today. Iran says its talks are only with Oman — but the lovely, concrete result is that a safe shipping lane has opened near the Omani coast, and ships are actually sailing through it. Oil prices fell, and world stock markets started the week happily.
What it means for gold: Peace calms the “safe haven” buying a little, but lower oil also means lower inflation and, eventually, friendlier interest rates — which helps gold. The two balance out for now, keeping prices steady and attractive. If peace holds, many analysts see gold rising toward $4,500 to $4,900 by year-end — so today’s prices may look like a lovely opportunity in hindsight.
What this means for you: Gold is about 27% below its January record. A 50-gram gold necklace costs approximately $2,460 less than at that peak — beautiful value at a hopeful moment.
The designs defining 2026 — perfect for a fresh start:
Sculptural gold — fluid cuffs, wave-shaped stackable rings, and arc earrings with artistic, flowing silhouettes.
Bezel-set gemstones — stones held in smooth, continuous metal rims for a sleek, modern look.
Celestial motifs — stars, moons, and planets in delicate pendants, perfect for layering.
Coloured gemstones — vivid sapphires, emeralds, and warm citrines in minimal gold settings.
Feather-light everyday chains — designed for comfortable daily wear.
Our friendly guidance:
For weddings, engagements, and gifts: attractive prices and a brightening outlook — a lovely time to buy.
For those building a collection: buying before any peace-driven rise means better value on every piece.
For long-term savers: central banks bought a net 41 tonnes of gold in May, and 89% of central bank managers expect official holdings to keep rising.
A note of balance: The peace is young and fragile, and Friday brings the big US jobs report — prices could move either way. Please confirm the live price with us before purchasing.
Gold near $4,070 is up roughly 20% compared to a year ago and just posted its first winning month in five. Mina Sky Jewellery is delighted to help you find something truly special to begin August beautifully.
Today’s prices: 24K — $130.75/gram | 22K — $119.85/gram | 21K — $114.40/gram
All prices USD. Indicative only. Volatile market. Please confirm final pricing in store.
