Gold Prices Continue To Fall!

Gold and silver tumbled sharply in the futures market on Monday, mirroring declines in global bullion as optimism over a potential US-China trade deal and a strong US dollar reduced safe-haven demand. On the Multi Commodity Exchange (MCX), December gold futures fell ₹1,546, or 1.25%, to ₹1,21,905 per 10 grams, with a turnover of 12,428 lots. During the holiday-shortened week, gold lost ₹3,557, or 2.80%.

Darshan Desai, CEO of Aspect Bullion & Refinery, noted that easing safe-haven demand amid trade optimism and a stronger dollar is driving the decline. The dollar index inched up 0.03% to 98.98. Silver futures for December delivery dropped ₹1,964, or 1.33%, to ₹1,45,506 per kg, falling 5.83% over the past week.

Globally, Comex December gold slid USD 61.69, or 1.49%, to USD 4,076.11 per ounce, while Comex silver was down 1.44% at USD 47.88 per ounce. Analysts highlighted that preliminary progress in US-China trade talks, coupled with expectations of Federal Reserve rate cuts, could trigger short-term volatility. Investors are advised to anticipate sharp swings as positive trade news or a stronger dollar may prompt further profit-taking.