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Commodities

Gold Falls in India as Strong Dollar and Rising US Prices Weigh

Guavy AI Editorial Team
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Gold
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Gold prices in India's major markets declined on Friday, tracking losses on both the Multi Commodity Exchange of India (MCX) and the COMEX. The national average spot price of gold with 99.9% purity fell by INR 269 per 10 grams to INR 153,018 per 10 grams on Friday.

The decline was largely attributed to a firm dollar index, which rose to 99.14 from 98.78 on Wednesday. A strong dollar typically makes dollar-denominated commodities like gold expensive for holders of other currencies, reducing demand for the precious metal.

However, losses were limited on the domestic exchange as the rupee extended its losing streak against the dollar for the fourth consecutive day.

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