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Commodities

Gold Prices Plummet to 5-Week Low Amid Strong Dollar and Rising Yields

Guavy AI Editorial Team
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Gold
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Gold prices plummeted by Rs 1,000 to hit a five-week low of Rs 1.54 lakh per 10 grams in Delhi on Tuesday.

The decline was driven by weak global trends and a strong US dollar, with spot gold slipping below USD 4,300 an ounce and trading near a one-month low.

Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said that the precious metal edged lower amid weak global cues.

Vedika Narvekar, Research Analyst- Commodities & Currencies, Anand Rathi Share and Stock Brokers Ltd, noted that gold in the domestic market is trading at a five-week low and has dropped more than 3 per cent this month.

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