Gold Prices Plummet Amid Escalating West Asian Tensions

The price of gold in India has taken a slight hit as tensions in West Asia continue to escalate. According to Good Returns, the current rate stands at ₹14,400 per gram for 24 carat gold, down from ₹14,422 on August 3.

22 and 18 carat gold have also seen a decrease in price, with 22 carat gold now priced at ₹13,200 per gram and 18 carat gold at ₹10,800 per gram. This marks a drop of ₹20 and ₹16 respectively from the previous day's prices.

The fluctuations in gold prices are largely attributed to the ongoing military actions in West Asia, which have led to increased concerns over global oil supply disruptions.