India imports a large quantity of gold and rising global prices have a direct impact on the domestic market. Gold prices have been rising in the global market as the dollar has continued to depreciate against a basket of major currencies and is currently close to a three-month low which makes gold cheaper to buy in other foreign currencies.
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1: https://zeenews.india.com/personal-finance/gold-price-touches-all-time-high-in-india-check-city-wise-current-rates-of-yellow-bullion-2694378.html
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