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Commodities

Gold Skyrockets ₹8,257 in One Week Amid Investor Support

Guavy AI Editorial Team
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Gold
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Gold prices surged ₹8,257 per 10 grams in just one week, reaching ₹1,60,620 on August 22. This is according to data from the India Bullion and Jewellers Association (IBJA).

The price of silver also rose significantly, increasing by ₹12,788 per kilogram during the same period. Its current price stands at ₹2,46,630 per kg.

Anindya Banerjee, Senior Vice President and Head of Commodity Research at Kotak Securities, said gold continues to receive support from investors as well as central banks, including the Reserve Bank of India, which has been adding gold to its reserves. He predicted that gold could potentially reach ₹1.70 lakh per 10 grams by December.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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