India, Aug. 7 -- Gold prices extended their rally on 7 August 2026, with international bullion remaining firmly above the $4,300 an ounce mark as investors shifted towards safe-haven assets. Softer expectations for additional US interest rate hikes, a weaker US dollar and easing crude oil prices helped precious metals record their strongest weekly performance in nearly seven months.

Gold spot prices increased by 1.6%, ending the day at $4,308.92 per ounce, thereby bringing the week's total rise above 6.6%. The gold futures prices in the New York market also rose to $4,287.50 per ounce, whereas the UAE market witnessed positive global trends. In UAE, gold prices were trading at AED 514.36 per gram for 24K gold and the bullish trend for bu...