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Forex

Indian Gold Prices Plummet as US Dollar Rebounds

Guavy AI Editorial Team
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USD
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Gold prices in India plummeted by Rs 800 to Rs 1.65 lakh/10g on Thursday, marking the second consecutive decline ahead of the Rakshabandhan festival.

The drop in gold prices can be attributed to a rebound in the US dollar and rising Treasury bond yields, as well as stronger-than-expected US inflation data.

Silver prices remained steady at Rs 2.50 lakh/kg in local markets but showed resilience globally, increasing marginally by 0.31% to USD 68.32 per ounce.

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