Gold falls Rs 700, silver plummets Rs 4,250

New Delhi: Gold prices declined by Rs 700 to Rs 1,25,900 per 10 grams in the national capital on Monday, tracking weak global trends as easing US-China trade tensions dented safe-haven demand. According to the All India Sarafa Association, the yellow metal had climbed Rs 1,000 to Rs 1,26,600 per 10 grams on Saturday.

Gold of 99.5 per cent purity also fell by Rs 700 to Rs 1,25,300 per 10 grams. It had settled at Rs 1,26,000 per 10 grams in the previous session.

“Gold resumed trading on a weaker note on Monday as signs of easing US-China trade tensions have increased investors’ interest in riskier assets, creating a negative impact on precious metals,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the local bullion market, silver prices slumped sharply by Rs 4,250 to Rs 1,51,250 per kg. The white metal had ended at Rs 1,55,500 per kg, up by Rs 2,900 on Saturday.