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Commodities

Gold Prices Plunge by Rs 2,600 in India Amid Global Market Volatility

Guavy AI Editorial Team
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Gold and silver prices have plummeted in India on Monday following a sharp selloff in global markets. In New Delhi, gold fell by Rs 2,600 to Rs 1.5 lakh per 10 grams, while silver dropped by Rs 5,000 to Rs 2.32 lakh per kg.

The decline is attributed to rising crude oil rates and a firm US dollar. Brent crude surged 4% to USD 108.53 a barrel due to renewed US-Iran tensions and supply concerns around the Strait of Hormuz.

Gaurav Garg, Head of Research at Lemonn, said that 'a firm US dollar continued to pressure the precious metals.'

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