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Indian Gold Prices Plummet Amid Strengthening Rupee, Silver Sees Surprise Rebound

Guavy AI Editorial Team
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Gold prices in India plummeted by Rs 900 to Rs 1.47 lakh per 10 grams due to a stronger rupee and subdued global cues. This decline occurred despite spot gold edging up to $4,048.89 per ounce internationally.

Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, attributed the fall in gold prices to subdued movement in international markets and a stronger Indian rupee.

However, silver bucked this trend and rebounded by Rs 1,800 to Rs 2,26,500 per kilogram. This was largely driven by investors increasing buying after a weaker US dollar and easing oil prices improved sentiment toward precious metals.

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