Glitter Over Gloom: Gold Prices Climb Ahead Of Fed Minutes

India’s gold market remained upbeat on Tuesday, with both investors and jewellery buyers showing renewed interest in bullion. Analysts say global cues, inflation concerns, and central bank policy expectations are driving the latest rally in gold prices.

What’s Driving Gold Prices Higher

The recent weakness in the US dollar has made gold more attractive globally, resulting in increased buying activity. Investors are also turning cautious ahead of the release of the US Fed Minutes, which could provide important hints regarding future interest rate decisions.

Market experts believe softer monetary policy expectations and geopolitical tensions are strengthening demand for gold as a hedge against volatility.

Today’s City-Wise Gold Prices
Chennai recorded the highest 24K gold price among major Indian cities.

• Delhi: 24K gold at ₹15,720 per gram | 22K gold at ₹14,411 per gram
• Mumbai: 24K gold at ₹15,705 per gram | 22K gold at ₹14,396 per gram
• Chennai: 24K gold at ₹16,223 per gram | 22K gold at ₹14,871 per gram
• Kolkata: 24K gold at ₹15,705 per gram | 22K gold at ₹14,396 per gram
  
  

Bullion Market Highlights

• 24K gold prices rise across key Indian metros
• Weak US dollar boosts global bullion demand
• Fed Minutes remain major market trigger
• Wedding season demand supports jewellery sales
• Safe-haven buying strengthens investor sentiment
• Chennai remains the costliest major gold market today

Industry observers expect gold prices to remain volatile in the near term as investors react to global economic data and central bank commentary. However, long-term sentiment for gold continues to remain positive due to persistent inflation concerns and uncertain global growth trends.

Sources: Goodreturns, Reuters, Bullion Market Analysts