Gold in India jumps to ₹151,479 per 10g Friday
Business
Gold just got pricier in India, climbing to ₹151,479 per 10gm on Friday.
The jump (₹420 higher than yesterday) is mainly because the rupee lost ground against the US dollar, making gold costlier here even though global prices are actually down.
International gold slips about 3%
While Indian prices rose, international gold slipped about 3% so far this week amid market jitters from rising oil costs and tensions between Iran and Israel.
Experts also point out that pressure from a firmer US dollar, rising Treasury yields, elevated crude oil prices, and hawkish repricing tied to Fed chair nominee Kevin Warsh is keeping everyone guessing about where gold is headed next.