Gold Price in India Hits New Highs as Global Cues Weigh In
The gold price in India surged to new highs after a sharp August rally, with 24K trading near ₹16,309/g and 22K around ₹14,950/g. The market remained steady on Sunday, with investors weighing strong global cues and the upcoming US data that could set the next directional move for bullion.
Internationally, spot gold has been hovering above the $4,600/oz mark after weekly gains exceeding 5%, supported by softer Treasury yields and a weaker dollar. Comex gold futures for December delivery closed the week near $4,680/oz, reflecting broad-based buying interest in bullion amid improving liquidity conditions.
The MCX Gold (Oct) contract has seen a surge of ₹19,062/10g since July end, underscoring strong domestic momentum. The 10-day trend shows a net rise of ₹8,670/g in 24K from 14 Aug to 23 Aug.