3 weeks ago
Gold rises seventh straight session to ₹1.59 lakh in Delhi
Gold got more expensive for the seventh day in a row.
In Delhi, the price of 10 grams of gold went up by 2,600 rupees.
Now it costs 1,59,800 rupees, which is a lot of money.
Silver got more expensive too, rising by 4,000 rupees for one kilogram.
People often buy gold when they feel worried or unsure about the future.
The news says buyers are waiting to see new numbers about inflation in the United States.
Inflation means prices of everyday things keep going up.
There are also tensions in West Asia that make many people want a safe place to keep their money, like gold.
Gold prices went up around the whole world as well.
Experts say the increase would have been even bigger if buyers weren't waiting for the US inflation news.
Gold rose ₹2,600 to ₹1,59,800 per 10 grams (99.9% purity, inclusive of taxes) in Delhi, marking a seventh straight session of gains.
The yellow metal has gained ₹12,400, or 8.4%, over the past seven sessions since August 3, when it stood at ₹1,47,400.
Silver also advanced ₹4,000 to ₹2,46,000 per kilogram in the domestic market.
Analysts attributed the rally to safe-haven buying ahead of US inflation data, geopolitical tensions in West Asia, a pullback in US Treasury yields and a steady dollar.
Globally, spot gold rose 1.02% to USD 4,412.63 per ounce, while silver traded 2.37% higher at USD 66.23 per ounce.
- Who
- Bullion investors and traders in India; prices were reported by the All India Sarafa Association, and analysts Gaurav Garg (Lemonn Markets Desk) and Saumil Gandhi (HDFC Securities) commented.
- What
- Gold prices rose for a seventh consecutive session, climbing ₹2,600 to ₹1,59,800 per 10 grams in Delhi, while silver gained ₹4,000 to ₹2,46,000 per kilogram.
- Where
- Delhi, India, tracking movements in global markets.
- When
- Wednesday, August 12, per the article dateline.
- Why
- Safe-haven buying ahead of US inflation data, geopolitical tensions in West Asia, a pullback in US Treasury bond yields and a steady dollar supported demand for precious metals.
Key facts
- Gold price (99.9% purity, Delhi)
- ₹1,59,800 per 10 grams
- Daily change in gold
- +₹2,600
- Previous gold close
- ₹1,57,200 per 10 grams
- Seven-session gold gain
- +₹12,400 (8.4%) since August 3
- Silver price (Delhi)
- ₹2,46,000 per kg (up ₹4,000)
- Global spot gold
- USD 4,412.63 per ounce (+1.02%)
- Global spot silver
- USD 66.23 per ounce (+2.37%)
- Price data source
- All India Sarafa Association
Quotes
Saumil Gandhi
Senior Analyst - Commodities at HDFC Securities
“Market participants will closely assess the data for signs of persistent price pressures, particularly given elevated gasoline prices that could keep inflation concerns in focus and encourage Fed officials to maintain a cautious stance”
freepressjournal.in
“Gold rose in the domestic markets as investors increased safe‑haven buying ahead of the US inflation data, while persistent geopolitical tensions in West Asia supported demand for precious metals”
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