Rupee weakness and global gains lift bullion prices in India
Business
After a four-day slide in gold and a drop in silver, prices in India jumped on Monday, thanks to a weaker rupee and positive moves in global markets.
Gold is now up ₹1,700 at ₹152,300 per 10gm, while silver surged ₹4,800 to ₹245,500 per kilogram.
Experts warn high US interest rates
Traders said depreciation in the rupee and strength in overseas markets revived demand for bullion after a sharp correction last week.
Globally, easing tensions between the US and Iran also gave prices a boost, but experts warn that high US interest rates could keep future gains in check.