Punjab Newsline | New Delhi
Gold and silver prices recorded a significant rise on Thursday, August 6, continuing the strong upward trend in the precious metals market.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹2,735, taking the rate of 10 grams to ₹1.48 lakh.
Silver prices also moved higher, with 1 kilogram of silver becoming costlier by ₹931, pushing the price to ₹2.25 lakh per kg.
The rally has been particularly sharp in August. In the first six days of the month, gold has become ₹5,501 more expensive, while silver has surged by ₹7,198 per kilogram.
Market experts said the rise is being supported by the weakening US dollar. Since gold and silver are priced in dollars globally, a weaker dollar makes these metals cheaper for foreign buyers, increasing international demand and supporting higher prices.
Analysts believe that continued currency weakness and strong investment demand could keep precious metal prices elevated in the near term, with investors closely watching global economic and monetary policy developments.
