Welcome to Mina Sky Jewellery’s gold market update for Friday July 31. Gold has dipped slightly today — down about 1.2% to around $4,060 per ounce — after two days of gains. But there’s lovely news to share: gold is finishing July higher, its first monthly gain in five months. Prices remain attractive and below January’s record, making today’s small dip a lovely moment to choose a beautiful piece. Here is our fresh and friendly guide.
Today’s prices:
24K: ~$130.40/gram | 22K: ~$119.55/gram | 21K: ~$114.10/gram | 18K: ~$97.80/gram
What happened this week? The US Federal Reserve held interest rates steady, which first lifted gold. Then the Fed chair spoke firmly about inflation, so gold eased back a little. Meanwhile, US inflation cooled and the dollar weakened — both good for gold — while the war in the Middle East reignited. The net result over the month: gold rose.
What this means for you: Gold is about 27% below its January record. A 50-gram gold necklace costs approximately $2,505 less than at that peak — lovely value, and today’s little dip makes it an even nicer time to buy.
The designs defining 2026 — beautiful right now:
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: today’s dip is a lovely time to buy at attractive prices.
For those building a collection: buying while prices remain below January’s peak means better value on every beautiful piece.
For long-term savers: central banks bought a net 41 tonnes of gold in May, and even cautious banks still expect $5,000 gold once the Fed stops raising rates.
A note of balance: Gold could dip a little more if the Fed stays hawkish, or rise if inflation keeps cooling — so please confirm the live price with us before purchasing.
Gold near $4,060 is up roughly 21.5% compared to a year ago, and it just posted its first winning month since February. Mina Sky Jewellery is delighted to help you find something truly special at a lovely price.
Today’s prices: 24K — $130.40/gram | 22K — $119.55/gram | 21K — $114.10/gram
All prices USD. Indicative only. Volatile market. Please confirm final pricing in store.
