Indian Gold Prices Soar to New High Amid Global Rally
Gold prices in India surged to ₹1.46 lakh per 10 grams on Wednesday, as global markets rallied amid renewed demand for the precious metal.
The Multi Commodity Exchange saw the October contract of gold jump by ₹2,165, or 1.5%, to ₹1,46,464 per 10 grams, tracking a sharp rally in overseas markets.
Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed the gains to safe-haven buying following renewed geopolitical uncertainty and a weaker US dollar.
He said, 'Gold extended their gains for the second straight session on Wednesday as investors increased safe-haven buying following renewed geopolitical uncertainty and a weaker US dollar.'