(FE)
Gold prices are on a continuous sinking trend for the last 7 days. Gold price hit a 4-month low, falling by Rs 180 in Delhi bullion market on Tuesday. Gold prices have fallen Rs 1,000 in a 7-day period, equalling a level last seen when bullion market reopened after a 16-day halt due to demonetisation on 28 November 2016, back then gold witnessed a massive dive of Rs 1,750. A massive plunge of Rs 1,000 in gold prices over last 7 days has taken it to Rs 29,400 per 10 gram. Earlier last year, gold and jewellery establishments were closed for 16 days after the Income-Tax department carried out surveys on alleged profiteering and issue arising related to tax evasion.
