Gold and Silver Prices Decline in Delhi

Gold prices in Delhi fell by Rs 500 to Rs 98,020 per 10 grams, marking the fourth consecutive day of losses. This decline is attributed to weakened investor demand following a trade deal between the US and the European Union, which reduced the appeal of gold as a safe-haven asset.

Silver Also Sees a Sharp Retreat

Silver prices followed suit, dropping by Rs 1,000 to Rs 1,13,000 per kilogram. The global markets showed a flat trend for spot gold and silver, trading at $3,337.95 and $38.17 per ounce, respectively.

Market Analysts Weigh In

"Gold traded in a positive but flat range near $3,335 per ounce, as strength in the dollar index limited gains last week," said Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities. The recent US-EU trade agreement, including a 15% tariff on most European goods, has added pressure to precious metal prices.

Looking Ahead

Market participants are keenly awaiting upcoming US macroeconomic data, such as jobless claims and Q2 GDP figures, which could influence future trends in gold and silver prices.