The price of Gold in Chennai was the highest at Rs 1,23,180 per 10 gm. (Photo source: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Gold prices in India fell to Rs 1,23,040 on Wednesday, extending decline for the fifth session.

The metal fell after its Tuesday's session ended 0.6% higher, trading around $4,000 an ounce. Gold remains on course for its strongest annual gain since 1979, having reached a series of record highs before retreating last month. US rate cuts have underpinned prices, which have also been buoyed by inflows into bullion-backed exchange-traded funds and sustained central bank buying.

Economists at Macquarie Group expect prices to decline over the next year following a 50% year-to-date surge. "With global growth beginning to recover, central

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