Gold Prices Rebound in India as Global Bullion Crosses $4,000 Again

Gold prices in India rose on June 27, bringing an end to the recent decline as rates increased across most major cities. The surge follows a strong rebound in international bullion prices, driven by a weaker U.S. dollar and reduced expectations of further interest rate hikes by the U.S. Federal Reserve.

In the national capital, Delhi, the price of 24-carat gold climbed to ₹1,42,960 per 10 grams, while in Mumbai it rose to ₹1,42,760 per 10 grams.

Globally, spot gold reclaimed the $4,000 mark and was trading at $4,077.64 per ounce, reflecting renewed investor interest in the safe-haven asset.

The rally comes after fresh U.S. inflation data showed that the Personal Consumption Expenditures (PCE) Price Index—the Federal Reserve's preferred inflation gauge—rose 4.1% in the 12 months through May.

The inflation update weakened the U.S. dollar and lowered expectations of aggressive interest rate hikes, making gold more attractive to investors. As a result, international bullion prices strengthened, providing support to domestic gold prices in India.

Market participants will now keep a close watch on upcoming U.S. economic data and Federal Reserve policy signals, which are expected to influence the next direction of gold prices.

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