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Yes, Centre of gravity of a freely suspended body always lies vertically below the point of suspension. The center of gravity of an object is the point you can suspend the object from without there being any rotation because of the force of gravity, no matter how the object is oriented. If you suspend an object from any point, let it go and allow it to come to rest, the center of gravity will lie along a vertical line that passes through the point of suspension. Unless you've been exceedingly careful in balancing the object, the center of gravity will generally lie below the suspension point.