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Gold prices fell by ₹620 per 10 grams in major Indian cities on Friday, October 25, as weak global trends and declining demand at record levels impacted the market.
The price of 22K gold also dropped by ₹570 per 10 grams after surpassing ₹73,000 per 10 grams on Thursday. Meanwhile, 24K gold traded above the ₹80,000 mark on Thursday, but retail demand has decreased due to these high prices. Despite the decline, significant corrections in gold prices were not observed, largely because of sustained demand during the ongoing festival and wedding seasons.
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This decline in gold prices aligns with losses seen in global markets, where spot gold was trading down 0.35% at $2,726 an ounce in early Asian trading on Friday.
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