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Gold Prices Plunge Below Rs 1.5 Lakh Amid Rising Yields and Dollar Strength

Guavy AI Editorial Team
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Gold prices in India's national capital plummeted on Tuesday, September 29, falling by Rs 1,400 per 10 grams. This decline pushed gold below the Rs 1.50 lakh mark for the first time in two months.

The drop comes amidst a broader slide in international bullion markets. On the Multi Commodity Exchange (MCX), gold futures also declined, reaching around Rs 1.48 lakh per 10 grams.

Market analysts attribute the weakness in precious metals to rising US Treasury yields and a stronger dollar. Higher yields tend to reduce the appeal of gold since it does not offer interest income.

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