Gold Prices Surge in India as Demand from Jewellers and Retailers Increases

Gold prices surged in India's national capital on Thursday, reaching Rs 1.48 lakh per 10 grams after rising by Rs 1,000. The increase was driven by fresh buying from jewellers and retailers amid firm global trends.

The price of gold had closed at Rs 1,47,000 per 10 grams in the preceding session, but the recent jump suggests a strong demand for the precious metal in the domestic market.

According to the All India Sarafa Association, silver prices dropped by Rs 600 to Rs 2,24,700 per kilogram from Wednesday's closing level of Rs 2,25,300 per kg.

Market analysts attributed the gold price rise to improved demand from jewellers and stockists, despite a stronger rupee capping further gains.