Commodities
Gold Prices Plummet in Delhi Amid Weak Global Trends
Gold prices in Delhi plummeted to a five-week low of Rs 1.54 lakh per 10 grams on September 15, amid weak global trends and a strong US dollar.
The precious metal fell by Rs 1,000 from its previous price, with spot gold slipping below USD 4,300 an ounce and trading near a one-month low.
According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, the decline was driven by a stronger US dollar and rising Treasury yields as elevated crude oil prices heightened inflation concerns and reinforced expectations of a Fed rate hike at this week's policy meeting.