Commodities
Gold Prices Plummet in Delhi Amid Strong Rupee, Subdued Global Markets
Delhi gold prices plummeted by Rs 900 to Rs 1.47 lakh per 10 grams on Monday, according to the All India Sarafa Association.
The decline was attributed to a stronger rupee and subdued movement in international markets.
Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, noted that gold prices traded in a narrow range due to these factors.
In contrast, silver rebounded by Rs 1,800 to Rs 2,26,500 per kilogram from Friday's closing level of Rs 2,24,700 per kg.
The rebound was driven by increased buying after a weaker US dollar and easing oil prices improved sentiment toward precious metals.