Gold slipped from all-time high, price fell by Rs 900 to Rs 102520 per 10 grams

Once the geopolitical tension eased and the stockists went into a selling mode, gold's price in the national capital on Monday reduced from the record high after five consecutive days of increase. 10 grams of gold lost Rs 900 to stand at Rs 1,02,520.

The All India Sarafa Association reports that gold of 99.9 percent purity increased by Rs 800 to an all-time high of Rs 1,03,420 per 10 grams on Friday. The gold of 99.5 percent purity was at an all-time high of Rs 1,03,000 per 10 grams in the last session. It dropped by Rs 900 to Rs 1,02,100 per 10 grams (including all taxes) on Monday.

In the last five trading sessions till Friday, gold prices have increased by Rs 5,800 per 10 grams. According to market experts, "Gold trading started with a weak trend, as the demand for traditional safe investment assets subdued due to excitement in the market."

"Geopolitical tensions have eased as President Donald Trump has agreed to meet Russian President Vladimir Putin in Alaska this weekend to discuss peace efforts related to the Russia-Ukraine conflict," said Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities. The news weighed on gold prices. Besides, the White House's clarification on the 39 percent tariff on gold bars also put pressure on prices, Gandhi said.

According to the All India Sarafa Association, silver prices fell by Rs 1,000 to Rs 1,14,000 per kg (including all taxes) on Monday. The white metal had closed at Rs 1,15,000 per kg on Friday. Silver prices had risen by Rs 5,500 per kg in the last five days till Friday.

In the global market, gold futures in New York fell by $ 40.61 or 1.19 percent to $ 3,358.17 an ounce. On the Multi Commodity Exchange, gold futures for the October contract were seen trading at Rs 1,00,518 per 10 grams, down by Rs 1,280 or 1.26 percent.

According to Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, gold has fallen by more than 1 percent. This has largely wiped out last week's gains. The market is awaiting clarification from the Trump administration after it, on Friday, termed the news of tariffs on gold and other special products as 'misinformation'.

Spot silver fell 1.39 percent to $ 37.81 an ounce. Prathamesh Mallya, DVP-Research, Non-Agri Commodities & Currencies at Angel One, said, "The tariff situation has created chaos globally, and if it escalates, traders may see a further rise in gold prices in the international markets. It may touch the level of $3,800 per ounce. MCX futures may reach the level of Rs 1,10,000 per 10 gram in the coming three months."