Gold rates across India surged sharply on Independence Day, marking their strongest weekly performance in nearly two months amid global economic uncertainties and shifting monetary policies.
Gold prices in India rose sharply on Saturday as the country marked Independence Day, with rates for 24-carat, 22-carat and 18-carat jewellery all moving higher. Goodreturns reported that the latest increase came after two straight sessions of gains, following a steep sell-off earlier in the week, and left bullion with its strongest weekly finish in about two months.
The biggest move was in 24-carat gold, which climbed by ₹7,100 to ₹15,51,300 per 100 grams. The 10-gram price rose ₹710 to ₹1,55,130. Goodreturns said 22-carat gold advanced ₹6,500 per 100 grams to ₹14,22,000, while 18-carat gold added ₹5,300 to ₹11,63,500 per 100 grams. The publication also said 1 gram of 24-carat gold stood at ₹15,513, with 22-carat at ₹14,220 and 18-carat at ₹11,635.
City-wise rates were broadly aligned, though Delhi remained marginally pricier than most markets. In Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune, 24-carat gold was quoted at ₹15,513 per gram, while Delhi showed ₹15,528. Chennai stood out for its higher 18-carat rate of ₹12,000 per gram, compared with ₹11,635 in several other large cities. Goodreturns said the difference reflected local pricing patterns rather than a change in the broader trend.
According to Enrich Money chief executive Ponmudi R, as quoted by Goodreturns, bullion has been supported by lower Treasury yields, a weaker dollar and expectations of a less restrictive Federal Reserve policy. He also pointed to geopolitical uncertainty as a reason investors continued to seek safety in precious metals. A separate Goodreturns report earlier this month said gold had already swung sharply after a drop of about ₹12,600 per 100 grams in 24-carat prices, highlighting how volatile the market has been in recent sessions.
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