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Commodities

Indian Gold Prices Plunge to Three-Week Low Amid Global Market Bearishness

Guavy AI Editorial Team
Instruments
Gold
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Gold prices in India continued their downward trend on Wednesday, falling to a three-week low of Rs 1.56 lakh per 10 grams due to bearish trends in global markets.

The metal has lost Rs 11,000 in the past six trading sessions from Rs 1,67,100 recorded on August 25.

Analysts pointed out that precious metals were under heavy selling pressure due to fears of an interest rate hike by the US Federal Reserve.

Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, noted that spot gold fell to its lowest level in more than three weeks.

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