Gold Prices Fall in Delhi Amid Weak Global Trends and Fed Rate Hike Expectations

Gold prices in Delhi fell significantly on Monday due to weak global trends and expectations of a Federal Reserve rate hike. The price dropped by Rs 650 per 10 grams to Rs 1,60,250. This decline was influenced by stronger-than-expected US jobs data, which increased the likelihood of a September Fed rate hike.

International spot gold prices also slipped by nearly 1 percent, dropping to USD 4,395.30 per ounce. Silver prices remained unchanged in Delhi at Rs 2,40,500 per kilogram for the second straight session.

The focus has shifted to key US inflation readings due later this week, which could offer fresh cues on the Federal Reserve's interest-rate trajectory and its effect on bullion outlook.