India Gold Prices Hit 3-Month High Amid Global Rally
Gold prices in India rose to their highest level in over three months on Monday, as 24K gold traded above ₹1.63 lakh per 10 grams. The benchmark 24K rate climbed to ₹16,397 per gram from the previous session.
The domestic rally followed a strong move in global bullion prices, with spot gold reaching $4,643.63 per ounce. A weaker US dollar supported demand for gold, as investors also await upcoming US inflation data and Federal Reserve Chair Kevin Warsh's speech for clues on interest-rate policy.
MCX gold traded 0.65% higher at ₹1,63,870 per 10 grams around 9:13 am IST. The domestic 24K gold rate rose to ₹1,63,970 per 10 grams, while 22K and 18K gold also gained.
Buyers should carefully assess the final purchase cost before buying jewellery or bullion, as making charges can substantially increase the final bill.