Indian Gold Prices Rise Amid Weakening Dollar
Gold prices in India saw an increase on July 27, with retail rates rising across major cities. The price of 24-carat gold rose by ₹93 to ₹14,586 per gram, while 22-carat gold gained ₹85 to ₹13,370 per gram.
Meanwhile, the price of 18-carat gold climbed by ₹69 to ₹10,939 per gram. However, silver prices remained unchanged at ₹240 per gram and ₹2,40,000 per kilogram.
The gains in gold prices can be attributed to the de-escalation of tensions in the Middle East region and the weakening of the US dollar. The US Federal Reserve's policy meeting this week will also be closely watched by market players for any new clues about interest rates.