Gold prices in New Delhi slipped on Monday, falling Rs 650 per 10 grams to Rs 1,60,250 after ending at Rs 1,60,900 on Friday. The 99.9‑percent‑pure metal had opened the week on a muted note, with domestic sentiment weighed down by a bearish global trend.
Silver, however, held steady at Rs 2,40,500 per kilogram, inclusive of all taxes, for a second consecutive session, according to local traders.
Analysts say the decline follows stronger‑than‑expected U.S. jobs data that has raised expectations of a September Fed rate hike. Markets are now awaiting this week’s Producer Price Index and Consumer Price Index releases for further policy clues, shifting focus to key U.S. inflation readings that could influence the Federal Reserve’s interest‑rate trajectory and the bullion outlook.
In international markets, spot gold fell by USD 35.03, or nearly 1 percent, to USD 4,395.30 per ounce, while silver dropped 1 percent to USD 65.64 per ounce. “Gold fell on Monday, tracking weaker overseas cues, with spot prices hovering around the USD 4,400 level,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
