Gold prices in India have witnessed a sharp increase following the conclusion of the United States presidential election. While market rates typically fluctuate during morning trading, the impact of the election results triggered a secondary, significant price adjustment by midday.
As of today, the price of 22-carat gold has risen by Rs 285 per gram, reaching Rs 13,385. Consequently, the cost of a sovereign (8 grams) has increased by Rs 2,280, bringing the total to Rs 1,07,080. This follows a substantial rise yesterday, when the price of a sovereign climbed by Rs 2,200. Over the past two days alone, the price of a sovereign has surged by a total of Rs 4,680.
Market data from yesterday afternoon indicated that 22-carat gold was trading at Rs 13,100 per gram. The current upward trend has also affected 18-carat gold, which has seen an increase of Rs 220 per gram, now retailing at Rs 10,955. The price for a sovereign of 18-carat gold currently stands at Rs 87,640, reflecting a rise of Rs 1,800.
In contrast to the volatility seen in the gold market, silver prices have remained stable. Silver continues to be sold at Rs 210 per gram, with one kilogram priced at Rs 2,10,000.
