India's Gold Prices Soar Amid Global Market Uptick

Gold prices in India rose on Tuesday morning, with the national rate for 24-karat gold increasing to ₹1,55,350 per 10 grams. This marks a gain of roughly ₹560 per 10 grams from Monday's national rate of ₹1,54,790.

The uptick in gold prices is attributed to a firmer tone in global bullion markets overnight, with investors adding to their positions as safe-haven demand increased. A softer US dollar also contributed to the rise in bullion prices, traders noted.

Despite the overall increase, Chennai bucked the national trend, recording a decline of ₹990 in 24-karat gold, ₹900 in 22-karat gold, and ₹900 in 18-karat gold. However, this does not indicate a shift in the broader national trend, market watchers said.