BusinessPhoto: NDTV BusinessGold Prices Fall 30% From Peak but Remain Higher Year-on-Year
Gold prices have dropped nearly 30% from their January peak of $5,589 per ounce, with domestic 24-carat gold now around Rs 1,44,570 per 10 grams. Despite this correction, prices are still 7-8% higher than last year's Dhanteras rate of Rs 1,30,860, providing positive returns to investors. The decline is attributed to leveraged position unwinding, tighter US monetary policy expectations, and increased margin requirements by CME.
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