Commodities
Gold Slumps Below ₹1.5 Lakh Mark in Delhi Amid Weak Demand and Strong Dollar
Gold prices in Delhi have fallen below ₹1.50 lakh per 10 grams for the first time in two months, slipping by ₹1,400 on Tuesday amid weak local demand and a strong US dollar.
The precious metal traded at ₹1,48,600 per 10 grams, inclusive of all taxes, according to local traders. This marks a decline from Monday's level of ₹1.50 lakh per 10 grams.
Gold was last quoted around these levels on July 31, when it stood at ₹1,48,300 per 10 grams.
The decline comes as the global market pressures continue to affect gold prices. 'Gold experienced a sharp correction in September, dipping below Rs 1.5 lakh per 10 grams due to significant global pressures,' said Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.