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Commodities

Gold Prices Crash by ₹2,800 Amid Profit Booking

Guavy AI Editorial Team
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Gold prices plummeted ₹2,800 to ₹1.57 lakh per 10 grams in Delhi on Thursday after a seven-session rally came to an end.

The yellow metal of 99.9% purity had closed at ₹1,59,800 per 10 grams on Wednesday, but investors booked profits following the softer US inflation outcome that was already priced into bullion during the recent surge, said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Silver also bore the brunt of the sell-off, tumbling ₹6,000 to ₹2,40,000 per kilogram (inclusive of all taxes), according to the All India Sarafa Association.

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