Gold prices in India continue to rise, driven by sustained demand for safe-haven assets amid growing concerns over the US financial and economic stability. As of Friday, the price of gold remains close to its record highs of $3,220 in international markets (XAU/USD), which has also been reflected in the Indian market.
Current Gold Prices in India
1 Gram: ₹8,835.27 (up from ₹8,789.90 on Thursday)
10 Grams: ₹88,353.93
1 Tola: ₹103,052.80 (up from ₹102,523.70 on Thursday)
1 Troy Ounce: ₹274,807.70
These price increases are attributed to ongoing pressure on the US Dollar, which continues to fuel buying interest in gold, especially as concerns about the stability of the US economy weigh on investor sentiment.
Factors Supporting Gold’s Rise
The persistent economic uncertainty in the US, especially regarding its financial stability, has driven more investors toward gold as a store of value. The weakness in the USD, compounded by global uncertainties, has supported gold’s position as a preferred asset, especially in times of market volatility.
As the global economic outlook remains uncertain, the demand for gold is expected to remain strong, with potential for further price increases in both global and local markets.
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