Gold Prices Surge in India for Second Straight Day Amid Easing Inflation Concerns
Gold prices in India continued their upward trend for the second consecutive day on July 28. The precious metal gained strength due to easing concerns over inflation, following a weekend where the United States and Iran refrained from launching fresh attacks. Additionally, softer crude oil prices improved sentiment in the bullion market, lifting gold prices further.
The price of 24 carat gold increased by Rs 10 to trade at Rs 1,46,050 per 10 grams in Delhi. Meanwhile, 22 carat gold rose by Rs 860 to Rs 1,33,860 per 10 grams over the last two sessions. Similar trends were observed across major Indian cities such as Mumbai, Kolkata, and Bengaluru.
However, silver prices softened after remaining unchanged for two consecutive sessions. One kilogram of silver fell by Rs 100 to Rs 2,39,900 in Delhi due to relatively weaker industrial demand.