Gold Price Plummets for 5th Day: Rs 11,000 Drop; Jewelry Market Sees Reversal

• Domestic gold prices fell for the fifth consecutive day, witnessing an approximate Rs. 11,000 decrease in five days.
• On March 6, 24-carat gold dropped by Rs. 770, and 22-carat gold, used for jewelry, decreased by Rs. 700 per 10 grams.
• Silver prices also saw a significant fall, with one kilogram dropping by approximately Rs. 30,000 in the last five days.
• This domestic market reversal occurs despite escalating geopolitical tensions in the Middle East, which usually drive gold prices up.
• Profit booking by investors is cited as a reason for the domestic crash, while Multi Commodity Exchange shows rising gold futures.