Gold Surges Past Rs 1.59 Lakh per 10 Grams in India Amid Global Market Volatility

Gold prices surged in India's national capital on Wednesday, climbing Rs 2,600 to reach Rs 1.59 lakh per 10 grams for the seventh consecutive session.

The increase was driven by strong global trends and robust demand from investors, who were seeking safe-haven assets ahead of US inflation data release.

According to the All India Sarafa Association, gold of 99.9 percent purity gained Rs 2,600 to Rs 1,59,800 per 10 grams, inclusive of all taxes, compared to Tuesday's closing level of Rs 1,57,200 per 10 grams.

Silver prices also rose by Rs 4,000 to Rs 2,46,000 per kilogram, marking a significant increase in the white metal's value.

Analysts cited geopolitical tensions and the pullback in US Treasury bond yields as key factors supporting precious metals demand, despite gains being capped due to investor caution ahead of US inflation numbers.