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Commodities

Gold Prices in Delhi Plummet by Rs 600 Amid Profit Booking

Guavy AI Editorial Team
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Gold prices in Delhi fell by Rs 600 to Rs 1,66,500 per 10 grams on Wednesday, ending a four-day winning streak. The decline was attributed to profit booking and a strong US dollar.

The previous day's closing price of gold was at Rs 1,67,100 per 10 grams. In contrast, silver prices rebounded by Rs 500 to Rs 2,50,500 per kilogram (inclusive of all taxes) from Tuesday's closing level of Rs 2.5 lakh per kg.

Akshat Siddhant, Lead Quant Analyst at Mudrex, attributed the gold price decline to traders booking profits after a strong multi-week rally.

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