Indian Gold Prices Hold Steady Over Weekend

Gold prices in India remained unchanged over the weekend, holding steady after a strong weekly rally. The precious metal had surged more than 5% during the previous week, reaching a three-month high of $4,623.94 per ounce on Friday. This uptrend was driven by a weaker US dollar, lower Treasury yields, and continued safe-haven demand.

The domestic gold prices in India reflected this global trend, with 24K gold remaining above ₹1.63 lakh per 10 grams. The 22K rate stayed close to the ₹1.50 lakh mark, while the 18K price was around ₹1.22 lakh per 10 grams.

The city-wise gold prices in major cities like Delhi, Mumbai, Chennai, and Bengaluru were also stable on Sunday, with minor variations between them. However, it's essential for buyers to consider the complete purchase cost, including making charges, GST, and purity, rather than just focusing on the quoted bullion rate.

MCX gold was closed on Sunday, but its previous session had seen a significant increase, crossing the ₹1.60 lakh per 10 grams level for the first time since March. The global rally in gold prices is expected to continue, driven by factors such as the US dollar, Treasury yields, and geopolitical developments.