Gold Prices Remain High Despite Strengthened Dollar and Interest Rate Hike
The gold prices in India have remained high despite the adverse impact of a stronger US dollar and expectations of rising interest rates in the international market. According to current data, gold with 24K purity costs ₹15,457 per gram, while 22K and 18K gold cost ₹14,169 and ₹11,593 respectively.
The global market is giving gold a mixed signal. Spot gold was down by 0.6% to $4,349.94 per ounce, while US gold futures were down by 0.9% to $4,383.90 per ounce. Silver declined by 0.4% to $65.99 per ounce.
The decline in gold prices is also due to the strengthened dollar following the recent US Federal Reserve interest rate hike and expectation for another increase this year 2026. The rupee is valued at ₹95.8150 per dollar, which can intensify or mitigate the movement in global gold.