Indian Gold Prices Soar by Rs 1,000 Amid Strong Global Demand
Gold prices in India surged by Rs 1,000 to Rs 1.48 lakh per 10 grams on Thursday, driven by fresh buying from jewellers and retailers amid firm global trends.
The All India Sarafa Association reported that silver dropped by Rs 600 to Rs 2,24,700 per kilogram from Wednesday's closing level of Rs 2,25,300 per kg.
Analysts said domestic gold prices edged higher on improved demand from jewellers and stockists, but a stronger rupee capped further gains.
Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, noted that gold advanced amid a pullback in the US dollar following the Federal Reserve's latest policy announcement, increasing demand for the precious metal.