Commodities
Gold Prices Plummet in India Amid Profit-Taking and Global Weakness
Gold prices in India fell for the second consecutive day on Friday, declining by Rs 800 to Rs 1.56 lakh per 10 grams in the national capital due to profit-taking and weak global cues.
The yellow metal of 99.9 percent purity had closed at Rs 1.57 lakh per 10 grams on Thursday.
Silver, however, remained unchanged at Rs 2.40 lakh per kilogram (inclusive of all taxes), according to local traders.
Analysts attributed the decline in gold prices to profit-taking after a recent rally and investors' caution about adding fresh positions at elevated levels.