India's Gold Prices See Broad-Based Increase Amid Global Market Shifts
Gold prices in India rose on Monday, August 17, with all three major purity categories recording gains. The price of 24-karat gold increased by ₹53 to ₹15,566 per gram, while 22-karat and 18-karat gold saw rises of ₹50 and ₹41 respectively.
The increase in gold prices comes as global markets respond to softer US economic data and a weaker dollar, supporting bullion demand. According to Reuters, spot gold rose on August 17 as weaker economic data reduced expectations of an imminent Federal Reserve rate hike.
Domestic gold prices can be affected by various factors, including the rupee-dollar exchange rate, international bullion prices, import costs, and local jewellery demand. Retail jewellery prices may differ from quoted gold rates due to making charges and other costs.