Gold Surges in India Amid Firm Global Trends and US Dollar Pullback
Gold prices surged in India's national capital on Thursday, rising by Rs 1,000 to reach Rs 1.48 lakh per 10 grams. The increase was driven by fresh buying from jewellers and retailers, as well as firm global trends.
The previous session had seen gold closing at Rs 1,47,000 per 10 grams, but the latest surge pushed prices even higher. Silver, on the other hand, saw a decline of Rs 600 to Rs 2,24,700 per kilogram, including all taxes.
Traders cited improved demand from jewellers and stockists as contributing to the rise in gold prices, although a stronger rupee capped further gains.
An analyst at HDFC Securities noted that the US dollar had pulled back following the Federal Reserve's latest policy announcement, increasing demand for the precious metal. The dollar index hovered around 101 after declining nearly 1% in the previous session.