Gold prices continued their downtrend and lost ₹441 per 10 grams to close at ₹1,21,077 amid volatile trading on Monday. The yellow metal has plunged by ₹8,507 per 10 gm or 7 per cent in the past week to ₹1,21,077 per 10 gm against ₹1,29,584 on October 17, on the back of a bearish trend in the international markets.

In the US, gold fell by $70 an ounce to $4,040 on weak demand and easing of trade tension with China.

Despite the bearish sentiments, gold has delivered over 55 per cent return so far in this year and is expected to gain further strength, given the geopolitical issues and US tariff tension with China.

The fall in prices comes after the robust gold jewellery sales during the peak Dhanteras and Diwali season in India.

Suvankar Sen, MD & CEO, Senco Gold, said the fall in prices

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