This invention solves the problem of what to do with the valve cap when it is removed from the valve while checking tire pressure. A cap holder elastic or rubbery projection on the pressure gauge is adapted to removably receive the cap. Caps have a standard internal female thread. The projection has ridges that increase the outside diameter to greater than the inside diameter of the threaded portion. The ridges as composed of a rubbery material that is so soft that they will bend without damage to the cap threads when the cap is pressed on to the projection. It will remain there securely while the operator is checking or adjusting the tire pressure.