Gold Prices Tumble Amid Global Market Sell-Off
Gold prices in the national capital fell by Rs 1,000 per 10 grams as global markets experienced a sell-off. The dip followed US President Trump's social media clarification that no tariffs would be imposed on gold imports. This announcement eased trade-related concerns and influenced macroeconomic tensions.
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In a significant follow-up to recent global market trends, gold prices dipped by Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday. The drop aligns with ongoing sell-offs in international markets, as reported by the All India Sarafa Association.
Market analysts pointed to US President Donald Trump's social media remark that clarified no tariffs will be imposed on gold imports, which has been a key factor in gold's recent price volatility. Even though an official White House confirmation is awaited, the announcement has alleviated certain trade-related anxieties.
Commodity experts believe the extension of suspended tariffs on China until November 11 has momentarily eased macroeconomic tensions, applying further downward pressure on gold prices. Meanwhile, investors stay focused on upcoming US economic data, which could provide insights into the Federal Reserve's monetary strategies.
(With inputs from agencies.)
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