Gold Prices Surge: Rally Expected to Continue Amidst Weak Dollar, Check Latest Rates

• Gold prices are on the rise on January 29, with 24-carat gold reaching ₹167,240 per 10 grams in Delhi and ₹167,090 in Mumbai.
• The increase is attributed to a weaker US dollar, which has fallen to its lowest level in 4 years, and a strong trend in global markets.
• The US Federal Reserve maintained stable interest rates in its January meeting, with Chairman Jerome Powell noting a strong US economy and low risks for inflation and employment.
• Analysts from Societe Generale and Morgan Stanley predict further gains, with estimates ranging from $5,700 to $6,000 per ounce by year-end.
• Silver prices are also increasing, reaching ₹380,100 per kilogram, driven by investment and strong industrial demand.

Why It Matters: Gold prices are surging due to a weak US dollar and strong global trends, with analysts predicting further gains.