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Commodities

Gold Prices Plummet in Delhi Bullion Market Amid Global Gains

Guavy AI Editorial Team
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Oil Gold
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Gold prices in Delhi's bullion market plummeted on Friday, with gold falling Rs 2,700 to Rs 1.55 lakh per 10 grams and silver tumbling by Rs 10,000 to Rs 2.34 lakh per kg.

The domestic selloff came despite gains in global markets, where spot gold rose $49.82 or 1.15% to $4,366.58 per ounce and silver gained 2% to $64.77 per ounce.

According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, elevated crude oil prices have revived inflation concerns, while higher Treasury yields and rising rate-hike expectations continue to weigh on assets such as gold.

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