Indian Gold Prices Hold Steady Amid Global Economic Uncertainty
Gold prices in India remained elevated on Wednesday, amid international market uncertainty and global economic tensions.
The domestic gold market saw 24-carat gold trading at Rs 152,500 per 10 grams in Delhi, while 22-carat gold was priced at Rs 139,792 per 10 grams. In Mumbai, 24-carat gold reached Rs 152,770 per 10 grams and 22-carat gold quoted at Rs 140,039 per 10 grams.
Silver of 999 purity was sold for Rs 238,700 per kilogram in the city. The rates varied across different cities, with Bengaluru recording 24-carat gold at Rs 152,890 per 10 grams and silver at Rs 238,890 per kilogram.
Market participants were tracking geopolitical developments, including US-Iran tensions, as well as upcoming US inflation data and interest-rate decisions by the Federal Reserve. Gold is a closely watched safe-haven asset due to its sensitivity to changes in interest-rate expectations, movements in the US dollar, and inflation concerns.