Gold Prices Plummet in Delhi Amid Strengthening Rupee

Gold prices in Delhi fell by Rs 900 to Rs 1.47 lakh per 10 grams on Monday, August 3, due to a stronger Indian rupee and subdued movement in international markets.

The All India Sarafa Association reported that the price of gold with 99.9% purity declined from its previous session's closing level of Rs 1,48,300 per 10 grams to Rs 1,47,400 per 10 grams (inclusive of all taxes).

Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, attributed the decline in gold prices to 'subdued movement in the international market, and a stronger Indian rupee.'

In contrast, silver rebounded by Rs 1,800 to Rs 2,26,500 per kilogram from its previous session's closing level of Rs 2,24,700 per kg.