Commodities
Delhi Gold Prices Plummet by Rs 15,000 Amid Strong Dollar
Gold prices in Delhi fell by Rs 1,500 to Rs 1.54 lakh per 10 grams on Tuesday due to weak global trends and a strong US dollar.
The decline was driven by hawkish remarks from Federal Reserve officials indicating that interest rates might need to stay elevated for an extended period, said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.
However, gold did receive some support due to declining oil prices which eased inflation concerns amid growing optimism over a potential diplomatic resolution to the US-Iran conflict.