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Forex

Indian Gold Prices Surge Rs 600 as Weaker Dollar Boosts Demand

Guavy AI Editorial Team
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Gold prices surged by Rs 600 to Rs 1.56 lakh/10g in India on Monday, driven by a weaker US dollar and firm global trends. The yellow metal of 99.9 per cent purity rebounded from its previous close of Rs 1,56,200 per 10 grams.

The recovery was attributed to the Federal Reserve's policy expectations, which were influenced by moderate US inflation data last week, as well as softer employment and retail sales figures.

Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said: 'Gold advanced on Monday, supported by a softer dollar and easing expectations for aggressive Federal Reserve's tightening following a series of weaker US economic indicators.'

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