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Gold price drops to Rs 54,000 per tola

The precious yellow metal price has dropped by Rs 800 per tola (11.664 gram) in a week to Rs 54,000 this week.
The market saw the trading of gold at Rs 54,000 per tola today, from Sunday’s Rs 54,800 per tola, though the precious yellow metal price went up To Rs 54,900 on Monday.
Likewise, the silver also witnessed a drop of Rs 25 per tola to Rs 840 per tola today from Sunday’s Rs 865.
The volatile US dollar and volatile prices in the international market has direct impact to the domestic market that has been witnessing a huge chunk of gold smuggling from China to India in recent months.