After an unprecendented rally, gold and silver prices in India witnessed a sharp correction after the end of Dhanteras, as profit booking and easing global outook pulled rates back from the recent record highs.
Gold prices, after all, had touched unprecedented levels during Dhanteras as demand levels remain sky high despite the soaring prices. The price of 24-carat gold touched as high as Rs 1,34,000 levels in select cities in India.
However, the prices have retreated considerably since, with gold rates seeing an immediate fall of up to Rs 2,400 per 10 grams after Dhanteras. This comes after market buyers and investors took advantage of the high prices to book profits.
