Gold Price Surges in India, Hitting New High

The price of gold in India has reached a new high, hovering near its highest level. The retail indicative price of gold is ₹15,513 per gram for 24K gold, with prices ranging from ₹1,55,130 for 10 grams of 24K to ₹11,635 for 18K.

The increase in gold prices has been significant over the years, with a rise of more than 8.3 lakh percent since 1926. This year alone, the price has appreciated by 1-2% due to various market factors, including the Federal Reserve's interest rate hike and geopolitical tensions.

The MCX gold has been trading in the range of ₹1.52 lakh - ₹1.53 lakh per 10 grams, with analysts predicting resistance levels at ₹1,55,500 - ₹1,56,000. The support level comes at ₹1,53,300 - ₹1,52,700.