Gold loses sheen on Monday on Profit-booking

On Monday, there was considerable fall in gold prices due to profit booking. Gold prices declined by Rs 34 to Rs 31,244 per ten gram in futures trade  on account of profit-booking by participants.

At the same time, silver prices also fell to some extent. In the national capital, Delhi, the prices of Gold and Silver were seen in decline. Gold prices fell by Rs 50 to Rs 32,100 per 10 gram in Delhi. Silver prices fell by Rs 50. Its price reached Rs 38,100 per kg.

On the other hand, the Federal Reserve has shown some caution about the global economy. Because of this, investors re-assess the estimates of interest rates hike. Globally, gold prices fell 0.11% to USD 1,220.80 an ounce, while Silver fell 0.21 percent to USD 14.46 an ounce.

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