Indian Gold Prices Reach ₹1.59 Lakh as Global Demand Continues to Rise

Gold prices in India have extended their winning streak to seven consecutive sessions, reaching ₹1.59 lakh per 10 grams on Wednesday.

The price of gold has jumped by ₹2,600 from Tuesday's closing level of ₹1,57,200, according to the All India Sarafa Association.

This rally has elevated gold prices by ₹12,400 or 8.4% since August 3.

Silver is also catching up with a surge of ₹4,000 to ₹2,46,000 per kilogram from ₹2,42,000 in the preceding session.

Analysts point to firm global demand and strong investment appetite as driving forces behind gold's price increase.