New Delhi ( Economy India ): Gold and silver prices witnessed a sharp decline in the national capital on Monday, with gold falling by 1,500 and silver dropping by 2,000, reflecting uncertainty in global markets amid developments in West Asia.
According to local bullion traders, 99.9% pure gold declined to 1,47,000 per 10 grams (inclusive of all taxes) from the previous closing price of 1,48,500 per 10 grams.
Silver Also Sees Sharp Decline
Silver prices also recorded significant losses during the trading session. The white metal fell by 2,000 to 2,35,000 per kilogram (inclusive of all taxes), compared to its previous close of 2,37,000 per kg.
Global Uncertainty Weighs on Precious Metals
Market experts attributed the decline in precious metal prices to ongoing uncertainty surrounding geopolitical developments in West Asia, which has influenced investor sentiment and trading activity in the bullion market.
Fluctuations in international gold prices, currency movements, and changing market expectations also contributed to the decline.
What Investors Should Watch
Analysts believe that gold and silver prices may remain volatile in the coming days as investors closely monitor:
- Geopolitical developments in West Asia
- Global economic data
- US dollar movement
- Central bank policy decisions
- International bullion market trends
( Economy India )
