Local Gold Prices Extended Rally and Broke New Thresholds

SEATTLE (Scrap Monster): The World Gold Council (WGC) published the latest India gold market update.

The research claims that gold prices kept up their remarkable run, frequently reaching all-time highs for key currencies. The commodity's price recently surpassed the US$3,200/oz threshold. Increased geopolitical risk and a declining USD were the primary drivers of the gold surge. Strong buying of gold ETFs across all areas drove the prices.

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The LBMA gold price PM in USD has increased by US$621/oz, or 24%, so far this year. Additionally, since March 2025, 14% of this rise has been observed. Following the trend, domestic gold prices in India increased 23% year-to-date to INR 93,217 per 10 grams.

Local gold prices have been below global benchmarks for the majority of the last four months, primarily as a result of muted demand for jewelry due to exorbitant prices. After shifting to a modest premium earlier in the month, the average discount continued to grow in mid-April.

Going forward, the demand for gold in April and May is probably going to be supported by wedding-related and seasonal expenditures. According to the WGC research, investors are anticipated to be very interested in gold due to its growing appeal as a safe-haven asset and portfolio diversifier in the face of market turbulence and economic uncertainty.