<p>New Delhi: Gold prices declined by Rs 700 to Rs 1,25,400 per 10 grams in the national capital on Monday amid appreciation in the rupee, and weak global trends, according to marketmen.</p>.<p>Extending losses for the third straight session, the precious metal of 99.5 per cent purity dropped by Rs 700 to Rs 1,24,800 per 10 grams (inclusive of all taxes).</p>.<p>Silver too faced selling pressure for the third consecutive day, plunging by Rs 1,000 to Rs 1,55,000 per kilogram (inclusive of all taxes).</p>.<p>On Monday, the rupee rebounded sharply by 50 paise to settle at 89.16 against the greenback, due to US dollar selling by banks and importers amid a dip in global crude oil prices.</p>.Gold declines Rs 600 to Rs 1,13,200 per 10 grams on weak demand in Delhi markets.<p>"Gold prices opened weak, as a stronger rupee and softness in the international markets, pressured domestic prices," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.</p>.<p>Echoing similar views, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said, gold has exhibited slightly higher volatility compared to global benchmarks due to sharp fluctuations in the rupee.</p>.<p>In the international markets, spot gold was trading marginally lower at USD 4,064.35 per ounce, while silver quoted 0.12 per cent higher at USD 50.09 per ounce.</p>.<p>"Spot gold eased to USD 4,060 per ounce as traders cautiously await a series of US economic releases, with any upside surprises likely to shift expectations back toward no rate cut," Kaynat Chainwala, Analyst Commodities & Currency, Kotak Securities, said.</p>.<p>Renisha Chainani, Head - Research at Augmont, said mixed US jobs data and uncertainty surrounding the Federal Reserve's next policy move have led to range-bound trading in bullion, but with a bearish bias.</p>.<p>Bullion holdings in the People's Bank of China (PBoC) reserves climbed to 74.09 million troy ounces in October, marking the 12th consecutive month of accumulation, signalling strong central bank demand.</p>.<p>According to World Gold Council, global central banks bought 220 MT of gold in Q3, up 28 per cent from Q2.</p>.<p>Meanwhile, New York Fed President John Williams indicated that interest rates may still be lowered in the near term, increasing the likelihood of a possible move in December.</p>.<p>"Investors are now looking ahead to key US macroeconomic data this week, including retail sales, producer inflation and jobless claims, for further guidance," Chainani said. </p>
<p>New Delhi: Gold prices declined by Rs 700 to Rs 1,25,400 per 10 grams in the national capital on Monday amid appreciation in the rupee, and weak global trends, according to marketmen.</p>.<p>Extending losses for the third straight session, the precious metal of 99.5 per cent purity dropped by Rs 700 to Rs 1,24,800 per 10 grams (inclusive of all taxes).</p>.<p>Silver too faced selling pressure for the third consecutive day, plunging by Rs 1,000 to Rs 1,55,000 per kilogram (inclusive of all taxes).</p>.<p>On Monday, the rupee rebounded sharply by 50 paise to settle at 89.16 against the greenback, due to US dollar selling by banks and importers amid a dip in global crude oil prices.</p>.Gold declines Rs 600 to Rs 1,13,200 per 10 grams on weak demand in Delhi markets.<p>"Gold prices opened weak, as a stronger rupee and softness in the international markets, pressured domestic prices," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.</p>.<p>Echoing similar views, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said, gold has exhibited slightly higher volatility compared to global benchmarks due to sharp fluctuations in the rupee.</p>.<p>In the international markets, spot gold was trading marginally lower at USD 4,064.35 per ounce, while silver quoted 0.12 per cent higher at USD 50.09 per ounce.</p>.<p>"Spot gold eased to USD 4,060 per ounce as traders cautiously await a series of US economic releases, with any upside surprises likely to shift expectations back toward no rate cut," Kaynat Chainwala, Analyst Commodities & Currency, Kotak Securities, said.</p>.<p>Renisha Chainani, Head - Research at Augmont, said mixed US jobs data and uncertainty surrounding the Federal Reserve's next policy move have led to range-bound trading in bullion, but with a bearish bias.</p>.<p>Bullion holdings in the People's Bank of China (PBoC) reserves climbed to 74.09 million troy ounces in October, marking the 12th consecutive month of accumulation, signalling strong central bank demand.</p>.<p>According to World Gold Council, global central banks bought 220 MT of gold in Q3, up 28 per cent from Q2.</p>.<p>Meanwhile, New York Fed President John Williams indicated that interest rates may still be lowered in the near term, increasing the likelihood of a possible move in December.</p>.<p>"Investors are now looking ahead to key US macroeconomic data this week, including retail sales, producer inflation and jobless claims, for further guidance," Chainani said. </p>