India's Gold Rush Continues as Prices Hit Rs 1.52 Lakh

Gold prices in India have surged 7% in the past 10 days to reach Rs 1.52 lakh per 10 grams, marking a significant increase in recent months.

This has led to consumers stepping up their purchases ahead of the upcoming festive season, with expectations that gold prices could soon cross Rs 1.60 lakh per 10 grams driving demand.

Jewellers are reporting higher value sales despite lower volumes, as buyers opt for lightweight designs and lower-carat gold in response to elevated prices.

Rajiv Popley, director of Mumbai-based Popley & Sons, said that NRIs buying during July weddings have also contributed to the increase in demand.