Gold Prices Slip Below Rs 1.5 Lakh in New Delhi Amid Global Pressures

Gold prices in India's capital city New Delhi took a sharp dip on Tuesday, falling below Rs 1.5 lakh per 10 grams for the first time in two months.

The drop was significant, with gold prices of 99.9% purity trading lower by Rs 1,400 at Rs 1,48,600 per 10 grams, inclusive of all taxes, according to local traders.

This marks a correction in September, with gold experiencing a sharp dip below Rs 1.5 lakh per 10 grams due to global pressures, as noted by Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.

However, on the global front, spot gold staged a modest recovery after tumbling 4% in the previous session, rising USD 30.34, or nearly 1%, to USD 4,145.26 per ounce.