Gold Prices Surge in India Amid Seasonal Demand and Global Uncertainty
India's gold and silver prices rose on August 20, driven by strong seasonal demand and fluctuating global sentiment. According to early-morning data from GoodReturns, the price of 24-carat gold increased by ₹430, reaching around ₹1,59,270 for 10 grams. Silver also saw a gain, rising nearly ₹10,000 per kilogram to trade close to ₹2,55,000.
The rise in prices came despite mixed signals from international bullion markets and fluctuations in the rupee's value. Gold rates varied across major Indian cities, with Delhi recording the highest 24K gold rate at ₹15,942 per gram. Silver prices remained steady near ₹255 per gram or around ₹2,55,000 per kilogram.
Experts attribute the rise in gold and silver prices to ongoing geopolitical tensions supporting demand for safe-haven assets like gold. Additionally, frequent fluctuations in the rupee's value can affect domestic precious metal prices. Buyers are advised to monitor daily price movements and opt for BIS-hallmarked jewellery.