Gold snaps 4-day winning streak; declines ₹800 to ₹98,500
Gold prices declined ₹800 to ₹98,500 per 10 grams, bringing an end to its four-day rally, in the national capital on Tuesday amid a fall in precious metal rates globally, according to the All India Sarafa Association.
The yellow metal of 99.5 per cent purity depreciated ₹800 to ₹98,000 per 10 grams (inclusive of all taxes). It had closed at ₹98,800 per 10 grams in the previous market session.
Additionally, silver prices plunged ₹1,370 to ₹99,000 per kg (inclusive of all taxes) on Tuesday. The white metal had settled at ₹1,00,370 per kg on Monday.
On the global front, spot gold slipped by USD 45.03 per ounce or 1.35 per cent to USD 3,296.92 per ounce.
"Gold is trading below USD 3,350 per ounce, weighed down by Brussels' push to accelerate trade negotiations with the US, reducing demand for safe-haven assets," Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said.
Investors are now focused on upcoming US Durable Goods Orders and Consumer Confidence data later in the day for further insights into the economic outlook amid persistent tariff and inflation concerns, Chainwala added.
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