Commodities
Rupee Depreciation Sends Indian Gold Prices Soaring
Indian gold prices have been on an upward trend for five consecutive days, reaching a new high of Rs 1.56 lakh per 10 grams in New Delhi on Monday.
The rise was largely attributed to the depreciation of the rupee, which made imported bullion more expensive in domestic markets and drove up prices.
Silver also saw an increase, rising by Rs 5,200 to Rs 2,40,000 per kilogram, according to the All India Sarafa Association.
Experts cited various factors contributing to the surge in gold and silver prices, including a firm greenback, global crude oil price increases, and lingering geopolitical tensions in West Asia.