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Commodities

Gold Prices Plummet as Strong Dollar and Crude Oil Surge

Guavy AI Editorial Team
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Oil Gold
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Gold prices in New Delhi fell to ₹1.52 lakh per 10 grams on Thursday, marking their fourth consecutive decline. The decrease was attributed to a stronger US dollar and rising crude oil prices.

The yellow metal of 99.9% purity dropped by ₹1,600 from Wednesday's closing level of ₹1.54 lakh per 10 grams. Silver also declined, falling ₹5,000 to ₹2.37 lakh per kilogram.

According to Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, domestic gold prices edged lower amid weak global cues and subdued retail demand. A stronger US dollar and rising Treasury yields continued to weigh on precious metals.

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