Gold Declines Rs 1,000; Silver Plunges Rs 1,400

New Delhi: Gold prices declined Rs1,000 to Rs98,400 per 10 grams in the national capital on Monday amid weak global trend, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs99,400 per 10 grams on Thursday. Gold of 99.5 per cent purity depreciated Rs1,000 to Rs97,900 per 10 grams against the previous close of Rs98,900 per 10 grams. “Gold prices continued to decline as easing US-China trade tensions boosted investors’ risk appetite, reducing demand for safe-haven assets like bullion while a stronger dollar added downward pressure on gold,” Abans Financial Services’ Chief Executive Officer Chintan Mehta said.

Additionally, silver prices also plunged Rs1,400 to Rs98,500 per kg on Monday. The white metal had settled at Rs99,900 per kg in the previous session. On the global front, spot gold fell nearly 1 per cent to trade at $3,291.04 per ounce. Spot silver in the Asian market hours traded 0.2 per cent lower at $33.05 per ounce. On Friday, China announced it would exempt some US imports from its steep 125 per cent tariffs, though it denied that any formal trade talks were underway. Meanwhile, the US Federal Reserve officials signalled that they see no immediate need to adjust monetary policy, choosing instead to monitor the economic impact of the Trump administration’s tariffs. This hawkish stance suggests that interest rate cuts may not materialise in the near term, further weighing on gold, which typically loses appeal as a non-yielding asset when interest rates stay elevated.