Gold drops by Rs 450, settling at Rs 79,550 per 10 grams; silver falls by Rs 600.

Gold and silver prices witnessed a decline on Monday, with gold dropping by Rs 450 to Rs 79,550 per 10 grams in the national capital. This decrease comes amid weak international market trends, with Comex gold futures falling after the previous week's close. On Friday, gold had settled at Rs 80,000 per 10 grams.

Silver also saw a fall of Rs 600, dropping to Rs 94,000 per kg from Rs 94,600 per kg. The price of gold with 99.5% purity declined to Rs 79,150 per 10 grams, compared to Friday's closing price of Rs 79,600 per 10 grams.

In futures trading on the Multi Commodity Exchange (MCX), December delivery contracts for gold lost Rs 460 or 0.6%, trading at Rs 76,812 per 10 grams. Experts attribute the drop in prices to a strengthening US dollar, which has put pressure on gold, alongside rising US bond yields, following the election results and expectations around Federal Reserve policies.

Gold futures on Comex slipped by 0.66% to USD 2,677 per ounce, after briefly rebounding above USD 2,700 due to a Fed rate cut. Meanwhile, silver futures for December delivery increased slightly by Rs 63 or 0.07% to Rs 91,332 per kg.

Experts point out that the US election results, including President-elect Donald Trump’s proposed tariffs and a shift in investor sentiment toward riskier assets, have contributed to weaker demand for gold. With inflation concerns and higher US Treasury yields, market flows continue to favor riskier assets, putting further pressure on the precious metals market.