Gold prices in India hovered near recent highs on Sunday, supported by softer US data and global market movements, while investors eye upcoming inflation readings to gauge further direction.
Gold prices in India were largely steady on Sunday, with the market holding near recent highs after last week’s sharp rally, according to Goodreturns. The report said 24-carat gold stayed above ₹1.52 lakh per 10 grams, while 22-carat gold hovered close to ₹1.40 lakh and 18-carat gold remained above ₹1.14 lakh. At the retail level, prices at leading jewellers continued to reflect the same firmness, with 22-carat gold above ₹14,000 a gram, 24-carat gold near ₹15,300 and 18-carat gold around ₹11,500.
The latest pause followed a week in which bullion drew support from softer-than-expected US nonfarm payroll data, which tempered expectations for further Federal Reserve tightening and made non-yielding assets such as gold more attractive than the dollar. Goodreturns said market attention now turns to inflation readings in India and the US, which are likely to shape sentiment in the days ahead.
Among jewellers, Tanishq quoted 22-carat gold at ₹14,010 a gram, or ₹1,40,100 for 10 grams, while 24-carat gold stood at ₹15,284 a gram and ₹1,52,840 for 10 grams. Its 18-carat price was ₹11,463 a gram. The India Bullion and Jewellers Association’s benchmark rates were also unchanged, with 999 purity gold at ₹14,962 a gram. Goodreturns reported similar levels at Malabar Gold, Kalyan Jewellers and Joyalukkas, where 22-carat gold was listed at ₹13,965 a gram, or ₹1,39,650 for 10 grams, and 24-carat gold at ₹15,235 a gram at Malabar.
The broader pattern fits a year of notable swings in India’s gold market. Earlier this year, The Economic Times reported that IBJA benchmark rates and retail jewellery prices moved sharply higher in February and March, before later easing, underlining how closely domestic pricing tracks international bullion moves and rupee-dollar shifts. For now, traders appear to be watching whether gold can sustain its recent gains if US data continues to point towards a softer policy outlook.
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