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Commodities

Indian Gold Market Surges on Festive Optimism Amid Steady Demand

Guavy AI Editorial Team
Instruments
Gold
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India's gold market is showing cautious optimism heading into the festive season. Gold prices surged in August, rising by 13% to reach $4,386 per ounce according to the LBMA Gold Price PM. This marks one of the strongest monthly gains in nearly three decades.

Digital gold buying has remained steady, averaging around INR25 billion ($262 million) per month from June to August. However, domestic prices continue to trade below import parity, indicating that local supply remains adequate relative to demand.

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