Welcome to Mina Sky Jewellery’s gold market update for Friday August 7 — and what a sparkling week to report. Gold has soared about 6%, its strongest week since January, now near $4,270 per ounce. Silver has dazzled too, surging past $61 — wonderful news for lovers of 2026’s mixed-metal looks. Behind it all: real peace progress in the region. Today brings America’s big jobs report, so the sparkle comes with a little suspense. Here is our fresh and friendly guide.
Today’s prices:
24K: ~$137.30/gram | 22K: ~$125.85/gram | 21K: ~$120.15/gram | 18K: ~$102.95/gram
The week’s golden story: Iran announced an understanding with Oman on a shipping route through the Strait of Hormuz — the most hopeful step of the whole year. Oil prices fell, inflation worries eased, and expectations for interest rate rises melted from two this year to just one. Gold leapt over 4% on Wednesday alone and touched seven-week highs above $4,300. Silver joined the celebration, climbing past $61 with analysts eyeing $63.
What this means for you: Gold is about 24% below its January record — a 50-gram necklace costs approximately $2,133 less than at that peak, though the saving has narrowed from $2,460 on Monday. Honestly said: this week made gold pricier, and if peace continues, analysts see $4,500 to $4,900 by year-end. Beautiful pieces chosen now carry that promise with them.
The designs of 2026 — and this week’s star trend:
Mixed metals — with silver at $61 and gold soaring together, layering slim silver chains with gold pendants is the season’s most market-perfect look.
Sculptural gold — fluid cuffs, wave-shaped stackable rings, arc earrings with flowing silhouettes.
Bezel-set gemstones — stones embraced in smooth, continuous rims.
Celestial motifs — stars, moons, and planets in delicate pendants.
Feather-light everyday chains — comfortable, elegant, daily.
Our friendly guidance:
For weddings and gifts coming soon: choosing now is graceful — this week showed how quickly prices can climb when good news arrives.
For flexible shoppers: today’s US jobs report (afternoon our time) could briefly dip prices toward $4,200 if strong — a lovely second chance. If weak, gold likely climbs toward $4,380.
For collectors: this week’s rally happened while most ordinary investors were absent — the world’s central banks carried it. Early trends make the loveliest entries.
A note of balance: The peace is progressing but not finished — a new Iranian parliament discussion bounced oil back a little this morning. Prices can move both ways today. Please confirm the live price with us before purchasing.
Gold near $4,270 is up about 25% from a year ago. Mina Sky Jewellery is delighted to help you celebrate a golden week with something truly special.
Today’s prices: 24K — $137.30/gram | 22K — $125.85/gram | 21K — $120.15/gram
All prices USD. Indicative only. Highly volatile market. Please confirm final pricing in store.
