India's Gold Prices Elevated: Rupee Weakness & Global Signals Push Rates Up

• Gold prices in India remain elevated, driven by a weaker rupee and ongoing global uncertainty.
• On December 17, 24-carat gold was ₹13,451/gram, and 22-carat gold was ₹12,330/gram.
• Colin Shah of Kama Jewelry notes rupee depreciation increases gold's landed cost, raising working capital needs and pressuring manufacturers' margins.
• Globally, gold traded in a narrow range, supported by weaker US employment data but capped by easing geopolitical tensions.
• Analysts advise caution for investors after gold's strong run, with potential short-term corrections but strong long-term fundamentals.

Why It Matters: Rupee weakness and global cues keep Indian gold prices high, impacting industry and warranting investor caution.