Gold prices have dropped by around 6% since Diwali, pressured by a stronger US dollar and rising inflation concerns. The price of 24-carat gold fell from Rs 80,710 to Rs 74,031. The recent uptick in US inflation has sparked fears of a pause in Federal Reserve rate cuts, further weakening gold prices. Check local gold rates for details.
The Indian market remained volatile throughout Thursday's trading session. The BSE Sensex fell by more than 100 points, while the Nifty50 closed above the 23,500 level.