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Indian Gold Prices Plummet as US Dollar Strengthens and Fed Decision Looms

Guavy AI Editorial Team
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Gold prices in India fell sharply on July 28, following global weakness in precious metal markets. The price of 24-carat gold dropped by ₹169 per gram to ₹14,417, while 22-carat gold slipped ₹155 to ₹13,215 per gram.

The price of 18-carat gold also declined by ₹126 to ₹10,813 per gram. Silver prices saw a significant drop as well, falling by ₹5,000 per kg to ₹2,35,000 per kg.

The decline in prices is attributed to the strong US dollar and anticipation of the US Federal Reserve's policy decision. The international bullion market also saw weakness, with spot gold falling 0.7% to $4,045.89 per ounce.

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