New Delhi: Gold prices dropped by Rs 100 to Rs 90,450 per 10 grams in the national capital on Tuesday due to weak demand from jewellers and retailers, according to the All India Sarafa Association.
Gold of 99.9 per cent purity had closed at Rs 90,550 per 10 grams on Monday.
Gold of 99.5 per cent purity declined by Rs 100 to
Rs 90,000 per 10 grams, marking the fourth straight day of fall.
Silver prices also depreciated by Rs 500 to Rs 1,00,000 per kg from Monday’s closing level of Rs 1,00,500 per kg.
Meanwhile, spot gold in the international markets increased by $12.56 or 0.42 per cent to $3,023.60 per ounce.
“Gold is trading near $3,020 per ounce as traders got relief from signs the next wave of US tariffs is shaping up as more focused, easing fears of an all-out trade war,” Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, said.
However, sharp downside in the bullion prices may be limited as geopolitical risks persist as Israel plans military drills near Lebanon and evacuations in northern Gaza, Chainwala added.