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Commodities

Gold Prices Plummet by Rs 600 in Delhi Amid Profit Booking

Guavy AI Editorial Team
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Gold prices took a hit in Delhi on August 26, dropping by Rs 600 to Rs 1,66,500 per 10 grams. This decline marked the end of a four-day rally amid weak trends in international markets.

Silver, however, rebounded modestly, rising 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, according to the All India Sarafa Association.

Akshat Siddhant, Lead Quant Analyst at investment platform Mudrex, attributed the decline in precious metal prices to a strengthening US dollar ahead of the US Personal Consumption Expenditures (PCE) inflation report.

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