Gold Prices Snap Four-Day Rally Amid Weak International Trends

Gold prices in India fell by Rs 600 to Rs 1,66,500 per 10 grams on Wednesday, ending a four-day rally. The decline was due to weak trends in international markets and profit booking by traders.

According to the All India Sarafa Association, silver rebounded modestly, rising Rs 500 to Rs 2,50,500 per kilogram from Tuesday's closing level of Rs 2.5 lakh per kg.

Akshat Siddhant, Lead Quant Analyst at investment platform Mudrex, attributed the decline in precious metal prices to a strengthening US dollar ahead of the US Personal Consumption Expenditures (PCE) inflation report.

Gold has repeatedly reached fresh multi-month highs this year, supported by the US Treasury's expanding debt-buyback program, lower bond yields and steady buying from China's central bank, Siddhant said.