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Gold consolidates near elevated price zone
Gold remained steady above ₹16,000 per gram, signaling consolidation at high levels.
India’s gold market displayed price stability with only a ₹1 increase across major cities. Mumbai, Bangalore and Hyderabad held at ₹16,190 for 24K, while Delhi and Chennai traded higher. The narrow daily move suggests consolidation after recent rallies. Sustained firmness above ₹16,000 per gram reinforces gold’s strength as a preferred hedge. Market participants attribute the stability to steady global bullion cues and muted currency fluctuations.