- Profit Booking: After a significant and prolonged rally that pushed gold to record highs (above ₹1,32,000 per 10 grams earlier this month), investors are engaging in substantial profit taking, leading to a sharp market correction.
- Stronger US Dollar (used): The US Dollar Index has strengthened, making dollar denominated assets like gold more expensive for holders of other currencies, which typically leads to lower demand and lower gold prices.
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