Gold Prices Dip Amid Global Trends and Political Developments

Gold prices have decreased by Rs 500 to Rs 1,00,420 per 10 grams in India's national capital despite a firm trend in international markets, according to data from the All India Sarafa Association. This marked a sizable drop from the previous session's close of Rs 1,00,920.

The declining trend continued as gold with 99.5 per cent purity fell by Rs 450 to Rs 1,00,050 per 10 grams, inclusive of all taxes. This is seen against a backdrop of optimistic political developments regarding peace talks between the US and Ukraine at the White House, attended by European and NATO leaders.

Market expert Praveen Singh linked the decrease to a weaker USD/INR pair due to recent changes in GST rules. Additionally, silver prices have also declined by Rs 1,000, presently trading at Rs 1,14,000 per kg. Meanwhile, New York's international markets reported a 0.15 percent increase in spot gold rates to USD 3,337.92 per ounce, with investors now focused on upcoming US Federal Reserve announcements.

(With inputs from agencies.)