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Commodities

Gold Prices Plummet in Delhi Amid Rupee Appreciation

Guavy AI Editorial Team
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Gold prices fell by Rs 900 to Rs 1.47 lakh per 10 grams in Delhi on Monday, due to an appreciation of the rupee and subdued movement in international markets.

The All India Sarafa Association reported that gold of 99.9% purity dropped to Rs 1,47,400 per 10 grams (inclusive of all taxes), down from its previous close of Rs 1,48,300 per 10 grams.

Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, attributed the decline in gold prices to the rupee's appreciation and subdued international movement. He noted that the absence of fresh buying interest for gold and a cautious investor stance ahead of key US economic data limited further gains.

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