Gold prices in India rose on Monday, according to data compiled by FXStreet. The benchmark 22-carat gold price increased by 0.8% to ₹61,200 per 10 grams, driven by strong global demand for safe-haven assets amid ongoing geopolitical tensions and inflation concerns. The surge follows a week of mixed performance in global gold markets, with prices fluctuating between ,950 and ,980 per troy ounce. The rise in gold prices impacts global markets as investors balance portfolios against currency volatility and central bank policy uncertainty. Traders are closely monitoring the U.S. Federal Reserve's stance on interest rates, which could influence the dollar's strength and, consequently, gold's appeal as an inflation hedge. Additionally, India's import duties and domestic demand patterns play a critical role in shaping regional price movements. For MENA investors, the trend highlights the interplay between global macroeconomic factors and local market dynamics. Key watchpoints include the Fed's upcoming policy decisions, India's import regulations, and the dollar's performance against major currencies. Traders should also track gold's technical levels at ,980 (resistance) and ,950 (support) for potential short-term trading opportunities.
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