Gold Prices Drop Rs. 4300 from Record High Amid Market Adjustments

Image Source : Goodreturns

Gold prices have retreated from their recent peak, falling by Rs. 4300 per 10 grams after reaching an all-time high of Rs. 99,358 earlier this week. The decline follows a rebound in the US dollar and easing tensions in the US-China trade dispute, which have reduced the safe-haven appeal of gold.

Key Highlights:
- Gold prices declined by Rs. 4300 per 10 grams from their highest recorded value.
- The drop is linked to a stronger US dollar and easing global trade tensions.
- Spot gold in the international market fell by over $100 in a single day, closing at $3,298 per ounce.
- Investors are shifting focus toward riskier assets, impacting gold’s short-term value.
- Experts suggest gold remains a favorable long-term investment, especially with the upcoming Akshaya Tritiya festival.
- Market analysts predict price support at Rs. 93,500 per 10 grams, with further buying interest likely if rates approach Rs. 89,500.

Sources: Livemint, MSN India, Moneycontrol News, Goodreturns Business