Indian Gold Prices Rise as Jewelery Stocks Trade Mixed
Gold prices in India rose on Tuesday, with all three major purity categories recording modest gains. The national rate for gold stands at ₹1,55,890 per 10 grams for 24 karat gold (99.9% purity), ₹1,42,900 per 10 grams for 22 karat gold (91.6% purity), and ₹1,16,920 per 10 grams for 18 karat gold (75% purity). This marks a gain of ₹230 for 24K gold, ₹200 for 22K gold, and ₹160 for 18K gold per 10 grams over Monday's rates.
The price increase is significant, with Delhi remaining the costliest major market, trading at a premium of about ₹150, ₹230 above the national rate. Chennai's 18K gold continues to carry a wider premium than other cities, while Vadodara and Ahmedabad trade a smaller premium of about ₹50, ₹80 above the national average.
Jewellery stocks were mixed on Tuesday, with gains in Titan Company and Thangamayil Jewellery offset by declines in Kalyan Jewellers and PC Jeweller. The price of gold has long been considered a reliable hedge against inflation, making it an attractive investment option for investors looking to diversify their portfolios.