Gold plunges 26% on MCX to ₹142,413 per 10gm
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Gold just took its biggest tumble since 2008, dropping 26% from its peak earlier this year on the MCX, from ₹192,991 to ₹142,413 per 10gm.
The main reasons? High US interest rates and inflation worries have made gold less attractive, especially with the US dollar getting stronger.
Spot gold down, experts advise ETFs
Spot gold slid another 1% on June 30 and finished June down by nearly 13%.
Experts like Dr. Renisha Chainani, Head of Research at Augmont, say gold's future depends on US economic data and Fed policy moves.
Experts suggest if you're thinking of buying gold, consider spreading out your purchases using ETFs or digital options to handle price swings.
Global events and inflation trends will keep playing a big role in where prices go from here.