first day of the week monday A decline was recorded in the price of gold. In the bullion market of the national capital, the price of gold fell by Rs 200 to Rs 79,200 per 10 grams. All India Bullion Association gave this information. On Friday, the price of gold of 99.9 percent purity closed at Rs 79,400 per 10 grams. Gold prices declined on Monday due to low demand in the domestic market amid weak trend in international markets. Globally, Comex (commodity market) gold futures fell by $ 23.50 an ounce, or 0.88 percent, to $ 2,657.50 an ounce.
Gold also fell in the global market
Manish Sharma, assistant vice-president (commodities and currencies), Anand Rathi Shares & Stock Brokers, said gold continued to fall after hitting an intraday intraday low of US$2,621 during Asian trade. Sharma said, this decline was due to the improvement in the dollar. It was boosted by a rise in US bond yields and inflation concerns linked to President-elect Donald Trump’s proposed tariff rates. According to Kainaat Chainwala, assistant vice president (commodity research), Kotak Securities, Comex gold closed with a weak bias last week as demand as a safe-haven option declined following the ceasefire agreement between Israel and Hezbollah in Lebanon. At the same time, concerns about persistent inflation have raised doubts about the pace of rate cuts next year, Chainwala said.
Gold futures prices fall
Amid weak spot demand, speculators reduced the size of their deals, due to which the price of gold fell by Rs 813 to Rs 76,315 per 10 grams in futures trade on Monday. On the Multi Commodity Exchange, the price of the contract for delivery in the month of February 2025 fell by Rs 813, or 1.05 percent, to Rs 76,315 per 10 grams. 12,349 lots were traded in this. Market analysts said gold futures prices fell due to a weak trend in global markets. Globally, gold fell 0.79 percent to $ 2,622.77 an ounce in New York.
