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Commodities

Gold Prices Plummet for Fifth Consecutive Day Amid Global Sell-Off

Guavy AI Editorial Team
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Oil Gold
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Gold prices in India continued to slide for the fifth consecutive day on Tuesday, reaching a nearly two-week low of Rs 1,58,200 per 10 grams. This decline is attributed to a global sell-off in bullion, with spot gold dropping USD 80.61, or 2%, to USD 4,368.58 per ounce.

The domestic market saw gold prices plummet by Rs 2,700, down from Monday's closing level of Rs 1,60,900 per 10 grams. Silver also declined by Rs 5,000 to Rs 2,40,500 per kg.

The pressure on bullion came as a fresh escalation between the US and Iran pushed oil prices higher, stoking inflation concerns and sharpening the focus on the interest-rate outlook.

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