Gold and silver prices fell sharply on Monday as global investors moved away from safe-haven assets. Positive signals from US-China trade talks and a stronger U.S. dollar dampened demand for precious metals. On the Multi Commodity Exchange (MCX), gold futures for June dropped 2.25 per cent (Rs 2,169) to Rs 95,500 per 10 grams, while silver futures for May slipped 0.6 per cent (Rs 585) to Rs 96,221 per kg.
Gold and silver prices dropped on Monday as investors to riskier assets amid improving global sentiment. The optimism around US-China trade talks and a strong U.S dollar pulled down demand for precious metals. This caused a sharp fall in their prices on the Multi Commodity Exchange (MCX).
Gold prices slipped as renewed optimism around global trade pushed investors away from safe-haven assets. In early Asian trade, spot gold fell 1.4 per cent to 3,277.68 dollars an ounce, while U.S. gold futures dropped 1.9 per cent to 3,281.40 dollars. The decline comes after reports that U.S. and Chinese negotiators reached a “key consensus” during weekend talks in Switzerland, with a joint statement expected from Chinese Vice Premier He Lifeng later on Monday.
– Mumbai: Rs 9,867/gm (24K), Rs 9,044/gm (22K)
– Delhi: Rs 9,882/gm (24K), Rs 9,059/gm (22K)
– Chennai: Rs 9,867/gm (24K), Rs 9,044/gm (22K)
– Kolkata: Rs 9,867/gm (24K), Rs 9,044/gm (22K)
– Bengaluru: Rs 9,867/gm (24K), Rs 9,044/gm (22K)
– Ahmedabad: Rs 9,867/gm (24K), Rs 9,044/gm (22K)
Though gold and silver prices dipped recently, analysts expect continued volatility ahead. Key factors like geopolitical tensions, U.S. inflation data, and central bank decisions will likely drive price movements.
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