Gold prices declined by ₹300 to ₹1,25,300 per 10 grams in the national capital on Monday, as the strong dollar and an easing set of global uncertainties reduced investor demand for the safe-haven asset.
Gold in the 99.5% purity category dropped by ₹300 to ₹1,24,700 per 10 grams, wiping off the ₹1,25,000 per 10 grams of Friday, as observed by the All India Sarafa Association. Gold of 99.9% purity fell from ₹1,25,600 to ₹1,25,300 per 10 grams.
Silver prices went up by ₹1,000 to ₹1,54,000 per kilogram from ₹1,53,000 on Friday, buoyed by strong industrial demand and good market sentiments.
The dollar index, which tracks the greenback’s strength against a basket of six major currencies, rose 0.09% to 99.89, thus putting pressure on bullion prices.
Internationally, spot gold fell 0.14% to $3,996.77 an ounce, while spot silver moved slightly lower to $48.64 an ounce.
According to analysts, the correction observed in prices derives from the easing of geopolitical tensions and an upturn in the Dollar; however, long-term investor level of interest in bullion has remained steady due to economic uncertainty.
