Gold price falls as dollar goes up to 20-year high
Image Credit: economic times
The gold price fell for the second week in a row, marking the greatest monthly drop in April since September 2021. On Friday, the gold rate for the June contract on the MCX was 51,760 per 10 gm. The key reason for the drop in yellow metal price, according to commodity market analysts, is the rising dollar index. According to them, the dollar index has been over 100 for the whole week, causing the USD to reach 20-year highs.