India's Gold Prices Plummet Amid Dollar Strength, Global Weakness

Gold prices in India have plummeted by Rs 900 to Rs 1.54 lakh per 10 grams, marking the third consecutive decline.

The drop is attributed to a stronger US dollar and weak global trends, which are forcing investors to reevaluate their positions.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted that gold traded weak on Wednesday as traders booked profits at higher levels.

The dollar index rose towards 100.85, adding further pressure on bullion.

Despite recent falls, gold remains significantly more expensive than a year ago, with prices having gained around 60% from roughly Rs 98,000 to Rs 1.57 lakh per 10 grams in one year.