Gold, silver retreat from record levels as Iran-Israel tensions ease Gold and silver prices retreated from record high levels in the national capital on Monday, with the precious metal plunging by Rs 450 per 10 grams, due to weak global trends and easing tensions in West Asia.
Gold prices declined by Rs 450 to Rs 73,650 per 10 grams amid weak trends in the overseas markets, according to HDFC Securities. The yellow metal had settled at Rs 74,100 per 10 grams on Friday.
Silver prices also tumbled by Rs 1,100 to Rs 85,500 per kg. In the previous close, it had closed at Rs 86,600 per kg.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 73,650 per 10 grams, down by Rs 450 against the previous close," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,365 per ounce, down by USD 26 from the previous close.
Gold resumed trading on a weaker note on Monday as demand for the safe haven asset decreased after easing geopolitical tensions in the Middle .
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