Gold prices in India have surged by Rs 500 to Rs 74,600 per 10 grams due to increased local demand and favorable global market conditions, with silver prices also rising by Rs 500 to Rs 85,000 per kilogram. Internationally, gold is trading at around $2,514 per ounce, reflecting a 0.44% increase from the previous day, driven by a weaker US dollar and lower Treasury yields. Analysts attribute the rising gold prices to economic uncertainties, with gold serving as a hedge against inflation and market volatility. Despite these gains, gold futures showed mixed performance on the MCX, indicating high volatility influenced by potential interest rate cuts from the ECB and the US Federal Reserve. The retail price of gold in major Indian cities varies, with 24-carat gold priced at Rs 72,860 per 10 grams in Mumbai and other cities and 22-carat gold at Rs 66,790 per 10 grams.