Delhi Gold Price Tumbles Below Rs 1.5 Lakh Amid Global Recovery

Gold prices in Delhi plummeted to their lowest point in two months, dipping below Rs 1.5 lakh per 10 grams for the first time since July 31. The sharp decline of Rs 1,400 is attributed to weak local demand and a strengthening US dollar.

The price drop marks a correction from last month's high, with analysts pointing to global pressures as a key factor in the downturn. Spot gold staged a modest recovery globally after tumbling 4% in the previous session, rising USD 30.34 or nearly 1% to USD 4,145.26 per ounce.

Silver prices remained unchanged in Delhi at Rs 2.32 lakh per kilogram, while global silver rebounded slightly to trade flat at USD 60.69 per ounce after declining nearly 6% in the preceding session.