Gold Prices Slide Amid Global Market Trends

Gold prices fell by Rs 1,000 in the national capital, dropping below Rs 80,000 amidst weak global trends, while silver also decreased. Analysts cite profit booking and eased geopolitical concerns as reasons. Economic indicators and geopolitical scenarios continue to influence the market direction.

Gold prices dropped significantly in the national capital on Monday, falling by Rs 1,000 to slip below the Rs 80,000 mark, amid global market weaknesses reported by local marketmen.

The precious 99.9 per cent pure metal saw a decline to Rs 79,400 per 10 grams from Friday's Rs 80,400, while silver also faced a downward trend, dropping to Rs 91,700 per kg from Rs 93,300 per kg last week.

Expert analysis attributes the slump to profit-making activities and a dissipated war premium in the absence of major geopolitical escalations. Market focus remains on upcoming economic data and international trade tensions, which could dictate future price directions.

(With inputs from agencies.)