Indian Gold Prices Rise Amid US Treasury Support Plan

Gold prices rose in India after the U.S. Treasury Department announced its buyback support plan, weakening the dollar and boosting demand.

The U.S. government's plan aims to stabilize financial markets by purchasing assets, which has led to a decrease in the value of the dollar.

This has made gold more attractive to investors seeking safe-haven assets, resulting in higher prices in India.

Indian gold prices settled 0.49% higher at ₹163,229, with physical demand remaining mixed across major markets.

The World Gold Council reported a 23% year-on-year decline in India's net gold imports to 98.1 tonnes in the June quarter, while domestic demand decreased by 6% to 131.4 tonnes.