Commodities
Gold Prices Surge Over Rs 6,000 as Inflation Fears Ease
Gold and silver have seen a significant recovery in prices after a month-long downward trend. According to the India Bullion and Jewellers Association (IBJA), gold prices rose by more than Rs 6,000 per 10 grams, while silver became costlier by over Rs 13,000 per kg.
The price of 24 carat gold increased to Rs 1,49,621 per 10 grams from Rs 1,42,860 earlier. The price of 22 carat gold also gained, with prices rising to Rs 1,37,053 per 10 grams from Rs 1,30,860.
Experts attribute the rise in prices to expectations of softer inflation and a weaker dollar index. A decline in the dollar can make these metals relatively more attractive to buyers holding other currencies.