Commodities
Indian Gold Prices Decline Amid Stronger Dollar and Profit-Booking
Gold prices in India declined on Wednesday after rising on Tuesday, with the price of 24K gold easing to ₹1,54,970 per 10 grams. This represents a pullback of ₹920 from Tuesday's closing levels of ₹1,55,890.
The decline was attributed to a firmer US dollar overnight, which makes dollar-denominated gold costlier for holders of other currencies and tends to dampen buying interest. Some investors also chose to lock in gains rather than chase prices higher into an uncertain global backdrop.
Despite the pullback, dealers noted that the national 24K rate is still holding comfortably above where it stood earlier in the month, suggesting the broader uptrend remains intact.