Gold Prices Fall Below ₹1.50 Lakh Mark In Delhi Amid Weak Demand, Strong Dollar
New Delhi, Sep 29: Gold prices on Tuesday slipped below Rs 1.50 lakh per 10 grams in the national capital for the first time in two months, falling by Rs 1,400 amid bearish local demand and a soaring US dollar. Gold prices decline Falling for the second day, the yellow metal of 99.9 per cent purity traded lower by Rs 1,400 at Rs 1,48,600 per 10 grams, inclusive of all taxes, according to local…
Delhi's gold prices fell below Rs 1.50 lakh per 10 grams for the first time in two months, according to local traders. This decline of Rs 1,400 is attributed to weak local demand and a strong US dollar. The price of 99.9% pure gold traded at Rs 1,48,600 per 10 grams on Tuesday, inclusive of all taxes. This marks the second day of gold's decline, with the metal falling to this level on Monday as well.
Silver, on the other hand, remained unchanged at Rs 2.32 lakh per kilogram. The price of silver had dropped by Rs 5,000 from the previous session's closing level of Rs 2.37 lakh per kilogram. Global market trends have had a significant impact on gold prices, with the metal experiencing a sharp correction in September due to substantial global pressures.
While gold is currently recovering marginally to USD 4,140 an ounce, silver remains near a seven-week low as expectations of higher-for-longer US interest rates continue to keep bond yields elevated, according to Gaurav Garg, Head of Research at brokerage platform Lemonn.
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