Indian Gold Prices Plummet 1.75% Amid Global Market Decline
The price of gold in India fell sharply on Monday, September 28, with 24-karat gold dropping to ₹15,017 per gram from ₹15,284 per gram on Friday. This represents a decline of 1.75% or ₹2,670 for 10 grams and ₹26,700 for 100 grams of gold.
The price drop was observed across all major cities in India, including Delhi, Mumbai, Chennai, and others, with no significant variation in rates. The international market is believed to be the cause of this decline, although it is not explicitly stated how much the global price fell.
Jewellery stocks such as Titan Company, Kalyan Jewellers India, Thangamayil Jewellery, and PC Jeweller also saw a decline in trading on Monday, with all four stocks losing value. The fall in gold prices may have contributed to this trend, but the exact reason is unclear.