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Gold Prices Plummet by Rs 750 Per 10 Grams Amid Ongoing Iran-US Ceasefire

Guavy AI Editorial Team
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Gold prices in India plummeted by Rs 750 per 10 grams on Tuesday, as investors cheered the ongoing Iran-US ceasefire. The national average gold rates stood at Rs 1,44,170 for 24-karat gold, Rs 1,32,150 per 10 grams for 22-karat gold, and Rs 1,08,130 per 10 grams for 18-karat gold.

The benchmark yellow metal's rates fell by Rs 750 in 24K gold, Rs 690 for 22K gold, and Rs 560 for 18K gold from Monday's levels. Gold prices have been on a downward trajectory since last Wednesday, dipping Rs 2,000-plus cumulatively across 24K, 22K, and 18K rates.

A Mumbai-based bullion dealer attributed the continued correction in gold prices to the absence of any negative development and the simmering down of Iran-US tensions. However, he cautioned that a fresh trigger could lead to a reversal in gold prices.

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