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Commodities

Gold Prices Plummet in Delhi Amid Strong Rupee and Subdued Global Cues

Guavy AI Editorial Team
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Gold prices in Delhi fell by ₹200 on Monday to ₹1,56,400 per 10 grams due to a stronger rupee and subdued global trends. The precious metal had closed at ₹1,56,600 per 10 grams on Friday.

The silver price also dropped sharply, falling ₹5,000 to ₹2.42 lakh per kilogram, inclusive of all taxes. This decline is attributed to the firm rupee and gains in stock markets.

Gaurav Garg, Head of Research at Lemonn, stated that gold and silver are caught between competing forces, with hawkish commentary from Federal Reserve officials and elevated inflation concerns keeping yields and the dollar firm.

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