3 weeks ago

Gold rises seventh straight session to ₹1.59 lakh in Delhi

Gold rises seventh straight session to ₹1.59 lakh in Delhi
Gold Price Rises ₹2,600 To ₹1.59 Lakh Per 10 Grams In Delhi, Marks Seventh Straight Gain · freepressjournal.in

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.

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”
freepressjournal.in

Sources

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