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Commodities

Indian Gold and Silver Prices Plummet Amid Rising Crude Oil Costs

Guavy AI Editorial Team
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Gold and silver prices in India fell on August 31st according to the India Bullion and Jewellers Association (IBJA).

24-carat gold dropped by ₹4,453 to ₹1,55,125 per 10 grams, while silver decreased by ₹8,437 to ₹2,35,455 per kilogram.

The decline in precious metal prices is linked to a sharp rise in global crude oil prices, which surged following military tension in the Middle East. Higher oil prices created volatility across commodity markets, prompting investors to adjust positions in precious metals.

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