Gold Prices Soar ₹4,300 on Thursday Amid Global Rebound
Gold prices in India surged sharply on Thursday, following a rebound seen through the week. According to HDFC Sky, the national rate for gold stands at ₹1,59,270 per 10 grams for 24 karat gold (99.9% purity), ₹1,46,000 per 10 grams for 22 karat gold (91.6% purity), and ₹1,19,460 per 10 grams for 18 karat gold (75% purity). This marks a sharp gain of ₹4,300 for 24K gold, ₹3,950 for 22K gold, and ₹3,230 for 18K gold per 10 grams over Wednesday's closing levels.
The jump in prices is attributed to a broad-based rebound in global spot gold prices, driven by renewed safe-haven demand and a softer US dollar overnight. Market watchers noted that such sharp single-day rallies often prompt a wait-and-watch approach among retail buyers, who may hold off on large purchases until prices show signs of stabilising.
Jewellery stocks also saw gains on Thursday morning, with Titan Company, Thangamayil Jewellery, and PC Jeweller all posting increases. However, Kalyan Jewellers was the lone laggard among the four major names.