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Gold Prices Plummet Across India on August 5

Guavy AI Editorial Team
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Gold prices in India declined across all major cities on August 5. According to BusinessLine, the price of 1 gram of 22-carat gold fell by ₹20 to ₹13,250 in Delhi and Mumbai. For 8 grams of 22-carat gold, the decrease was ₹160 to ₹1,06,000 in these cities.

The same trend was observed in other major cities such as Chennai, Hyderabad, Ahmedabad, Bengaluru, and Kolkata. In Chennai, for example, the price of 1 gram of 22-carat gold fell by ₹50 to ₹13,200, while 8 grams of 24-carat gold decreased by ₹424 to ₹1,10,880.

The decrease in gold prices may be attributed to various market factors. However, no specific reasons were mentioned in the report. BusinessLine cited bankbazaar.com as the source for the gold rates.

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