Gold Prices Soar Above $4,600 Amid Weaker Dollar
Gold prices in India continued to trade on the higher side on August 25, despite domestic prices being down slightly from the previous session. The current rate for 24K gold is ₹16,375 per gram, while 22K and 18K gold are priced at ₹15,010 and ₹12,281 per gram respectively.
The international market saw spot gold rise to above $4,600 an ounce, with US gold futures trading at $4,683.80. The strength of bullion in international markets is attributed to a weaker dollar and expectations around US monetary policy.
For Indian buyers, the headline rate is just the starting point, as GST, making charges, and other levies can significantly increase the final bill. According to the source, gold prices have risen more than 15% in August, delivering one of its best monthly performances in recent years.