Falling for the third day in a row, gold prices retreated by ₹150 to ₹88,750 per 10 grams in the national capital on Monday amid a weak trend in the overseas markets, according to the All India Sarafa Association.The precious metal of 99.9% purity had settled lower at Rs 88,900 per 10 grams on Friday.
Gold of 99.5% purity slipped by ₹150 to ₹88,350 per 10 grams from the previous close of ₹88,500 per 10 grams.
Silver prices also declined by ₹250 to ₹99,250 per kg, snapping the four-day winning run.Comex gold futures for April delivery fell 0.32% to USD 2,904.80 per ounce in the international markets. Meanwhile, spot gold also fell 0.13% to USD 2,905.31 per ounce.
Gold of 99.5% purity slipped by ₹150 to ₹88,350 per 10 grams from the previous close of ₹88,500 per 10 grams.
Silver prices also declined by ₹250 to ₹99,250 per kg, snapping the four-day winning run.Comex gold futures for April delivery fell 0.32% to USD 2,904.80 per ounce in the international markets. Meanwhile, spot gold also fell 0.13% to USD 2,905.31 per ounce.
Also read: Gold steadies as investors fret over global economic outlook
“Gold and silver saw profit-taking from recent highs due to a rebound in US bond yields. The US administration’s decision to delay Mexico tariffs by a month added to the cautious sentiment. However, a weakening dollar, which fell to a five-month low and recorded its worst weekly decline since November 2022, provided tailwinds for gold and silver,” Rahul Kalantri, VP Commodities, Mehta Equities Ltd, said.
Silver futures for May delivery traded lower at USD 32.80 per ounce.
