Gold Prices in India Steady at Elevated Levels Amid Global Cues

Gold prices in India have stabilized at elevated levels after a sharp August rally, with 24K trading near ₹16,309/g and 22K around ₹14,950/g. This comes as markets remain closed on Sunday.

Investors are weighing strong global cues, a firmer rupee offset, and 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 surged ₹19,062/10g since July end, underscoring strong domestic momentum. Silver futures have added 4.5% weekly, settling around ₹2.46 lakh/kg earlier in the week before stabilizing near ₹2.60 lakh/kg.