India Gold Prices Soar to 2-Session High Amid Safe-Haven Demand
Gold prices in India continued their upward trend on Thursday, with national rates reaching Rs 1,49,730 for 24-karat gold, Rs 1,37,250 for 22-karat gold, and Rs 1,12,300 for 18-karat gold per 10 grams. This marks a significant increase of Rs 3,980 for 24-karat, Rs 3,650 for 22-karat, and Rs 2,990 for 18-karat gold over Wednesday's national rates.
The rise in gold prices is attributed to persistent safe-haven demand, with the unresolved Iran-US standoff continuing to keep bullion firmly in favour among domestic and global investors. The US Federal Reserve's stance ahead of its September meeting also remains a key factor in the outlook for rate-sensitive assets such as gold.
Cities like Chennai continued to command a premium over national rates, with 24-karat gold priced at Rs 1,50,000 per 10 grams. Delhi and Vadodara also quoted higher prices compared to the national average, while cities like Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune traded in line with the benchmark.