Gold Prices Slide Below Rs 1.44 Lakh Amid Weak Global Cues

Gold and silver prices declined in India on Monday due to weak global cues. The price of gold slipped below Rs 1.44 lakh per 10 grams, while silver hovered near Rs 2.23 lakh per kilogram. On the Multi Commodity Exchange (MCX), gold futures opened at Rs 1,44,180 per 10 grams, but later traded lower at Rs 1,43,470, down Rs 692 or 0.48 percent.

The price of silver futures also declined, trading largely flat in early deals before touching a low of Rs 2,22,641 per kilogram, down 0.37 percent or Rs 831. In the international market, precious metals were trading lower, with COMEX gold down 0.41 percent at $4,078 per ounce and COMEX silver declining more than 1 percent to $58.52 per ounce.

According to commodity market experts, gold remained under pressure as investors turned cautious amid renewed geopolitical tensions and expectations that the US Federal Reserve could keep interest rates higher for longer. The analysts stated that safe-haven demand received only limited support after fresh exchanges between the US and Iran over the weekend strained the fragile ceasefire.