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Commodities

Gold Prices Rise as Crude Oil Falls Below $100

Guavy AI Editorial Team
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Oil Gold
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Gold prices ended the week on a firm note as cooling crude oil prices boosted sentiment in the precious metal. The price of 24-carat gold rose to ₹1,53,727 per 10 grams by Friday from ₹1,51,938 a week earlier, marking a weekly increase of nearly 1.18%.

The decline in crude oil prices below $100 per barrel provided support to gold as concerns surrounding the closure of Saudi Arabia's key pipeline eased. Oil prices fell for three consecutive sessions due to reduced fears of disruptions to Middle East energy flows.

However, profit-booking emerged in the futures market on Friday, causing MCX gold futures for October delivery to decline 0.84% to ₹1,54,263 per 10 grams.

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