Commodities
Delhi Gold Price Drops Rs 900 Amid Stronger Rupee and Subdued Global Cues
The Delhi gold price dropped significantly to Rs 1.47 lakh per 10 grams on Monday due to a stronger rupee and subdued global cues.
According to the All India Sarafa Association, the yellow metal of 99.9% purity fell by Rs 900 to Rs 1,47,400 per 10 grams, inclusive of all taxes.
This decline comes despite spot gold edging up to USD 4,048.89 per ounce in international markets, while silver rose marginally to USD 57.97 per ounce.
Gaurav Garg, Head of Research at Lemonn Markets Desk, noted that silver rebounded by Rs 1,800 to Rs 2,26,500 per kilogram due to increased buying interest after a weaker US dollar and easing oil prices improved sentiment toward precious metals.