Gold Prices Soar in India Amid Safe-Haven Demand and Weaker Dollar

The price of gold in India has surged to ₹1,55,350 per 10 grams for 24-carat gold amid strong demand for safe-haven assets.

This increase is largely due to the relative weakness of the US dollar, which makes gold relatively expensive for those holding other currencies.

The Dollar Index decreased by around 0.3% recently, while spot gold increased by almost 0.6%, reaching a level of $4.432,79 per ounce.

In India, 24K gold prices rose in most cities, with Mumbai, Delhi, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune experiencing an increase of around ₹560 per 10 grams each. However, Chennai was the exception, with a decline of ₹990 per 10 grams.