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Commodities

Gold Prices Plunge Rs 2,700 on Selling Pressure in Indian Market

Guavy AI Editorial Team
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Gold
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Gold prices took a sharp decline on Friday in India, dropping by Rs 2,700 to reach Rs 1.55 lakh per 10 grams. This significant decrease is attributed to selling pressure in the local market following a recent rally.

Silver also experienced a notable drop, plummeting by Rs 10,000 to Rs 2.34 lakh per kg. Traders pointed out that this sharp correction in domestic bullion prices reflects the selling pressure in the local market, despite gains in global markets.

The spot gold price rose USD 49.82, or 1.15 percent, to USD 4,366.58 per ounce globally, while silver gained 2 percent to USD 64.77 per ounce.

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