India's Gold Prices Hit New Highs Amid Global Trends
The prices of gold and silver in India remain influenced by international spot bullion trends, USD/INR currency dynamics, and anticipatory retail demand ahead of peak festival shopping.
In the physical retail market, gold is primarily bought in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat remains the preferred choice for crafting ornaments due to its mixed alloys delivering greater durability.
The latest rates in major cities across India show that Delhi has the highest price of ₹1,48,930 per 10 grams of 24K gold. Mumbai and other cities have similar prices ranging from ₹1,49,580 to ₹1,37,110 per 10 grams for 22K and 24K gold.
According to a prediction made by Jefferies' Christopher Wood, gold could reach $10,000 'sooner or later'. He also likes India's small and midcaps. However, it is essential to note that the prices quoted in benchmark tables and store listings reflect base bullion prices, excluding GST, import duties, and local transport surcharges.