India Gold Prices Stabilize After Volatile Week Amid Dollar Strength

The recent gold price correction in India has raised concerns among buyers and investors. According to latest retail rates, 24K gold is priced at approximately ₹14,918 per gram or ₹1,49,180 per 10 grams in India, while 22K gold stands at about ₹13,675 per gram or ₹1,36,750 per 10 grams.

The decline in Indian gold prices is closely linked to movements in the international bullion market. The stronger US dollar and elevated US Treasury yields have been putting pressure on bullion, making interest-bearing assets more attractive compared to gold.

A stronger US dollar can also weigh on gold because it's globally priced in dollars, reducing demand for dollar-denominated gold among buyers using other currencies.