Gold Prices Plummet 3% to $4,150 Amid Global Concerns

Gold prices plummeted by nearly 3% on September 28 to $4,150 per ounce, hitting an eight-week low. This significant drop was driven mainly by global concerns.

The US gold futures for December delivery also declined by 3.03% to $4,190.20 per ounce, mirroring the spot price of gold.

Brent crude prices rose above $108.04 per barrel due to increased tensions between the US and Iran, which further pressured bullion prices.

In India, domestic spot gold was down 2.63% from Friday's close on MCX, while gold futures for December 4 delivery declined by 2.84%.