Commodities
Gold Prices Plummet for Fourth Straight Day in India
Gold and silver prices in India continued their downward trend for the fourth consecutive day on September 24. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold fell by ₹853 to ₹1.51 lakh per 10 grams, while silver declined by ₹2,716 to ₹2.30 lakh per kg.
The decline over the past four days has been significant, with silver becoming cheaper by about ₹7,000 and gold prices falling by approximately ₹2,500 during this period.
The US Federal Reserve's interest rate decision is believed to have affected gold prices, as higher interest rates can reduce the appeal of gold for investors since it does not generate interest income.