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The MCX Gold price plunged 0.11 per cent to Rs 85,722 during the early trading session on Tuesday after reaching a record high on Monday over concerns about US President Trump’s aggressive 25 per cent tariff policy. In terms of price, the Gold MCX saw a decline of Rs 31. Meanwhile, the price of Silver fell by 0.90 per cent or Rs 861 and stood at Rs 94,434 per kg.
Earlier on Monday, Gold prices zoomed by Rs 2,430 to hit a lifetime high of Rs 88,500 per 10 grams in the national capital on Monday following firm global trends and a weak rupee, according to the All India Sarafa Association.
The precious metal breached the record USD 2,900 an ounce level in spot markets globally after US President Donald Trump announced the imposition of fresh 25 per cent tariffs on all steel and aluminium imports to the US.
The precious metal of 99.9 per cent purity had settled at Rs 86,070 per 10 grams last week. Gold of 99.5 per cent purity surged by Rs 2,430 to hit a record high of Rs 88,100 per 10 grams in the local markets.
On the other hand, Silver futures, on Monday, climbed Rs 632 to Rs 95,965 per kg on the Multi Commodity Exchange (MCX).
