Gold Silver Rate Today Live Updates: Gold rallies over 2% to $4,063 as weak US data boosts investor sentiments

Gold rallied over 2% to $4,063 after US inflation cooled more than expected, reducing expectations of a July rate hike by the Federal Reserve.

COMEX gold traded near $4,031 an ounce, while MCX gold edged higher to around ₹1,41,644 per 10 grams.

US inflation slowed to 3.5% year-on-year in June, with core inflation easing to 2.6%, lowering the probability of a July rate hike to 12% from 40%.

Geopolitical tensions from US President Donald Trump's reinstatement of a blockade on Iranian vessels supported safe-haven demand for gold.

Silver fell 0.3% to $58.48 an ounce, while platinum gained 0.2% to $1,635.56 and palladium rose 0.2% to $1,307.11.