Gold prices in India rise by ₹700 per 10gm
Gold prices in India shot up by ₹700 to hit ₹98,520 per 10gm on Wednesday, snapping a five-day losing streak.
Silver joined the rally, rising ₹1,000 to reach ₹1,14,000 per kg.
The main reasons? A weaker rupee and more people turning to gold and silver as safe bets when markets get shaky.
Why gold is shining bright
If you're into investing or just curious about why everyone's talking gold lately—here's the scoop:
The rupee dropped against the US dollar thanks to higher oil prices and trade tensions between India and the US.
When currencies wobble or global news gets tense, people often flock to precious metals for stability.
What's happening with gold globally?
Globally, gold is holding steady as investors wait for big economic updates from the US—like GDP numbers and hints from the Federal Reserve about future policies.
All this uncertainty worldwide is adding fuel to India's gold price surge.