India Gold Prices Reach Two-Month High Amid Strong Investment Demand

Gold prices in India rose for the sixth consecutive session, reaching a two-month high of Rs 1.57 lakh per 10 grams on Tuesday. The increase was driven by stronger investment demand from traders, despite firm oil rates.

The gold price jumped Rs 1,200 to reach Rs 1.57 lakh per 10 grams (inclusive of all taxes) from Monday's closing level of Rs 1.56 lakh per 10 grams, according to the All India Sarafa Association. This is the highest level since June 12.

Silver also rose, reaching its highest level in more than two months at Rs 2.42 lakh per kilogram (inclusive of all taxes), up by Rs 2,000 from Monday's closing level.

Analysts expect gold and silver prices to remain steady but face a fourth weekly drop due to surging energy prices from the Middle East conflict, which is fueling inflation worries.