GG News Bureau
New Delhi, 12th May: Gold prices witnessed a steep decline on Monday, the first trading day of the week, as global tensions eased following key geopolitical and trade developments. A breakthrough trade deal between the United States and China, along with a ceasefire proposal by Russia and reduced hostilities between India and Pakistan, brought relief to global markets and dampened the demand for safe-haven assets like gold.
At the Multi Commodity Exchange (MCX), gold futures for June 5, 2025 delivery fell by ₹2,458 or 2.55%, trading at ₹94,060 per 10 grams. Meanwhile, gold futures for August 5, 2025 delivery dropped by ₹2,422 or 2.49% to ₹94,771 per 10 grams.
Global Gold Prices Drop Sharply
The impact was equally visible in global markets. On the COMEX, gold futures were down by 1.75% or $59.80, trading at $3,284.20 per ounce on Monday morning. Spot gold prices also declined by 1.39% or $46.30, settling at $3,278.68 per ounce.
Silver Bucks Trend, Posts Modest Gains Globally
While gold prices declined, silver prices saw moderate gains in global markets. COMEX silver futures rose by 0.38% or $0.13 to trade at $33.04 per ounce. Spot silver prices climbed 0.42% or $0.14 to $32.86 per ounce.
Experts attribute the fall in gold prices to reduced geopolitical risk and improved trade relations between major global economies, which have encouraged investors to shift back to riskier assets.
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