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Commodities

Gold Price Slumps on Strong US Jobs Data

Guavy AI Editorial Team
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Gold
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The gold price in India fell by ₹1.54 lakh per kilogram due to stronger-than-expected US jobs data, which increased the likelihood of a rate hike in September to 60%. The non-farm payrolls rose to 162,000 in August, exceeding market estimates of 53,000-65,000.

Gold spot prices were last quoted around $4,400 an ounce amid a fall in the precious metal following the US strong jobs numbers. Domestic gold prices fell by ₹65 per gram for 24K gold and ₹60 per gram for 22K gold in Delhi.

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