Gold Prices Soar ₹7,064 in India as Global Tensions and Fed Decisions Bite

India's gold and silver prices have surged this week due to various global and domestic factors. According to the India Bullion and Jewelers Association (IBJA), over the five trading days, the price of 10 grams of 24-carat gold increased by ₹7,064 to ₹1,49,000.

The price of one kilogram of silver also rose by ₹14,094 to ₹2,31,000. This increase in prices is attributed to several factors, including global tensions and geopolitical crises, US Federal Reserve decisions, the decline of the dollar index, record purchases by central banks, and a surge in industrial demand.

Gold has seen a rally so far this year, with its price increasing by ₹16,000. Meanwhile, silver prices have risen by ₹1,000.