Mumbai, November 12: Domestic gold prices surged to a fresh high of ₹78,500 per 10 grams, driven by a combination of global market cues, a weakening U.S. dollar, and speculation over potential Federal Reserve rate cuts. The rally coincides with the ongoing festive season demand, further boosting bullion purchases across India.
Analysts note that the dollar’s recent decline against major currencies makes gold more attractive for Indian buyers, while expectations of monetary easing by the Fed have added to investor optimism in precious metals.
“Gold continues to benefit from safe-haven demand and seasonal buying. If global trends persist, we may see further upside in domestic prices,” said a senior market analyst.
Silver prices also rose in tandem, though the surge in gold remains the highlight for investors eyeing hedging options amid market volatility. Traders are closely monitoring international cues, including geopolitical developments and central bank policies, which may influence bullion movements in the near term.
With festivals such as Diwali and Dhanteras driving consumer purchases, market experts expect sustained interest in physical gold, while ETFs and sovereign gold bonds continue to attract long-term investors seeking portfolio diversification.
