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India's Gold Prices Plummet After PM Modi's Appeal

Guavy AI Editorial Team
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Oil Gold
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Gold prices in India have fallen after Prime Minister Narendra Modi appealed to people not to buy unnecessary gold. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has dropped by ₹1,037 per 10 grams to ₹1.54 lakh. This decline is also attributed to the rise in crude oil prices and tensions between the US and Iran.

The United States attacked an Iranian island in the Strait of Hormuz, leading to increased instability in the region. As a result, gold prices may remain under pressure in the coming days according to market expert Anuj Gupta.

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