New Delhi: Gold prices declined Rs 1,000 to Rs 98,400 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 Rs 99,400 per 10 grams on Thursday.
Gold of 99.5 per cent purity depreciated Rs 1,000 to Rs 97,900 per 10 grams against the previous close of Rs 98,900 per 10 grams.
Additionally, silver prices also plunged Rs 1,400 to Rs 98,500 per kg on Monday. The white metal had settled at Rs 99,900 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.
According to HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi said this week traders expect the spotlight will be mostly on tariff-related developments.
On the macroeconomic front, US data release such as manufacturing PMI data for April, GDP data, and, most importantly, US non-farm payrolls and unemployment rates will impact the bullion market, Gandhi said.