Gold prices fall Rs 85 on weak global trend
Gold fell by Rs 85 to Rs 38,775 per 10 gram on Monday.
"Spot gold prices for 24 Karat in Delhi were trading lower by Rs 85 on strangled spot demand and weak international prices. The weakness in rupee, which fell around 7 paise against the dollar during the day, limited the down side in gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Silver prices also tumbled by Rs 290 to Rs 45,250 per kg from Rs 45,540 per kg.
In the international market, gold prices were trading lower at $1,464 an ounce, while silver was quoting at $16.88 per ounce.
International spot gold prices remained in the trading range below $1,470 an ounce as round of positive comments on the US-China trade deal cheered investor sentiments, he added.