Commodities
Gold Prices Plummet to Near Two-Week Low Amid Global Sell-Off
Gold prices in India plummeted to a near two-week low on Tuesday, continuing its downward trend for the fifth consecutive day. The precious metal traded at Rs 1,58,200 per 10 grams, down by Rs 2,700 from Monday's closing level of Rs 1,60,900 per 10 grams.
The decline in gold prices can be attributed to a global sell-off, with silver also falling by Rs 5,000 to Rs 2,40,500 per kg. The white metal had ended flat at Rs 2,45,500 per kg on Monday.
The pressure on bullion has increased due to the escalating tensions between the US and Iran, which have pushed oil prices higher, stoking inflation concerns and sharpening the focus on interest-rate outlook.