Gold and silver rise in India as gold reaches ₹1.59L
Business
Gold and silver prices in India shot up on Thursday, with gold hitting ₹1.59 lakh per 10gm.
This surge is mainly because investors are looking for safer places to park their money, thanks to ongoing conflicts in West Asia and dropping oil prices.
International gold $4,499, investment demand rising
International gold prices also climbed, reaching $4,499 per ounce after a conditional ceasefire between Israel and Lebanon, though fresh strikes kept gains in check.
Experts say people are now expected to be buying gold more for investment than jewelry, and central banks (especially in emerging markets) are still snapping up gold to hedge against uncertainty.
Looking ahead, analysts expect physical gold investment demand to rise in 2026, while jewelry demand is projected to decline.