Gold falls to Rs 1,32,600/10g amid subdued demand in Delhi markets

New Delhi: Gold prices fell by Rs 300 to Rs 1,32,600 per 10 grams in the national capital on Monday due to subdued demand in the local markets, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity had closed at Rs 1,32,900 per 10 grams on Friday.

However, silver prices jumped by Rs 1,500 to Rs 1,85,000 per kilogram (inclusive of all taxes), marking their second consecutive day of gains. It had settled at Rs 1,83,500 per kg in the previous market session.

Globally, spot gold rose by 0.18 per cent to USD 4,205.26 per ounce.

"Spot gold witnessed heightened volatility and was trading with a gain of around 0.20 per cent at USD 4,210 per ounce ahead of the upcoming US Fed Reserve's Federal Open Market Committee (FOMC) monetary policy meeting due on December 10," Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, said.

Inderbir Singh Jolly, CEO of PL Wealth Management, said, "Gold continues to reinforce its position as an important asset class amid global market uncertainty." He added that with central banks maintaining a steady pace of gold accumulation and investors seeking inflation resilience, the metal remains a key diversifier in both institutional and retail portfolios.

"We're seeing consistent traction across digital gold investments, reflecting growing recognition of gold's role as a strategic long-term asset," Jolly said.

Meanwhile, spot silver was trading marginally higher at USD 58.41 per ounce. On Friday, the white metal had soared by USD 2.2 or 3.84 per cent to touch an all-time high of USD 59.33 per ounce before settling at USD 58.39 per ounce.

Jolly of PL Wealth Management said bullion prices traded in a steady range, supported by softer dollar movements and sustained exchange traded fund (ETF) inflows.

"Domestic demand remained firm as investors rebalanced portfolios toward safe-haven assets. On the retail front, digital gold transactions rose by over 12 per cent.

"Looking ahead, we expect gold to remain supported in the near term, with potential upside driven by ongoing geopolitical risks and expectations of gradual rate cuts in early 2026," he added.