New Delhi, June 30 - Gold prices in the national capital on Monday fell by Rs 200 to Rs 97,470 per 10 grams due to continued selling by stockists, according to the All India Sarafa Association. Earlier, the precious metal with 99.9 per cent purity had closed at Rs 97,670 per 10 grams on Friday.
Extending its decline for the seventh consecutive day, gold with 99.5 per cent purity fell by Rs 150 to Rs 97,050 per 10 grams (inclusive of all taxes). It had settled at Rs 97,200 per 10 grams in the previous market session.
Chintan Mehta, CEO, Abans Financial Services, said, "Gold is facing continuous downward pressure as both geopolitical and economic uncertainties are receding.
"Decreasing tensions in the Middle East and progress on trade agreements with the US are reducing the immediate need for safe assets." Silver prices also fell by Rs 200 on Monday to Rs 1,02,800 per kg (including all taxes).