Falling for the third day in a row, gold prices retreated by Rs 150 to Rs 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 per cent purity had settled lower at Rs 88,900 per 10 grams on Friday.
Gold of 99.5 per cent purity slipped by Rs 150 to Rs 88,350 per 10 grams from the previous close of Rs 88,500 per 10 grams.
Silver prices also declined by Rs 250 to Rs 99,250 per kg, snapping the four-day winning run.
Comex gold futures for April delivery fell 0.32 per cent to USD 2,904.80 per ounce in the international markets. Meanwhile, spot gold also fell 0.13 per cent to USD 2,905.31 per ounce.
“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.
