Gold and Silver Prices Rise Sharply in India

Gold prices in India have risen above Rs 1,02,000 per 10 grams for 24-carat gold in major cities such as Mumbai and Ahmedabad, reflecting strong safe-haven demand amid global uncertainties, persistent geopolitical tensions, and expectations of a US Federal Reserve rate cut. Local factors including festival and wedding demand, inflation, and central bank buying are also supporting higher bullion prices. Silver rates have climbed, reaching up to Rs 1,15,000 per kg in some markets. Internationally, gold is trading near a two-week high of $3,375 per ounce, buoyed by weak US economic data and renewed tariff threats from President Trump. Fluctuations in currency values, changes in import duties, and adjustments to repo rates following the RBI's monetary policy meeting are further impacting domestic gold prices. Market participants are closely watching policy signals from both the US Federal Reserve and the Reserve Bank of India for further direction.