Gold Prices Surge Amid Weak Dollar and Global Trends

Gold prices in the national capital rose by Rs 2,000 to Rs 1.54 lakh per 10 grams, spurred by firm global market trends and a weaker US dollar. The US Federal Reserve's decision to maintain rates offered further support to precious metals, while investors await the European Central Bank's policy signals.

In a significant rebound, gold prices climbed by Rs 2,000 to reach Rs 1.54 lakh per 10 grams in the national capital on Thursday. This increase is attributed to the firming trends in global markets and a weaker US dollar.

According to the All India Sarafa Association, the gold of 99.9% purity surged by 1.31%, closing at Rs 1,54,800 per 10 grams after a previous session low. Insights from Saumil Gandhi, Senior Analyst at HDFC Securities, suggest that a softer US dollar and easing Treasury bond yields provided essential support to gold prices.

Despite the rise in gold, silver encountered a decline of Rs 1,800 per kilogram, attributed to fluctuations in demand and international market trends. Meanwhile, the US Federal Reserve's stance on interest rates contributed to stabilizing the precious metals market, as investors closely monitor the European Central Bank's policy moves.