Reported about 11 hours ago
Gold prices saw a significant decline of over 5% this week, marking the end of a fervent rally that had set record highs. Investors began cashing in profits following months of heavy buying, driven by global uncertainties and rising demand due to factors like high government debt and speculation of interest rate cuts. However, optimism around easing US-China trade tensions and the conclusion of India's Diwali festival contributed to reduced demand and the sharp drop in gold prices.
Source: YAHOO