New Delhi, Oct 28: Gold prices dropped by Rs 4,100 to Rs 1,21,800 per 10 grams in the national capital and slipped below USD 4,000 an ounce in the global markets on Tuesday as easing US-China trade tensions dampened safe-haven appeal. According to the All India Sarafa Association, the precious metal had closed at Rs 1,25,900 per 10 grams on Monday.

In the local bullion market, gold of 99.5 per cent purity also tumbled by Rs 4,100 to Rs 1,21,200 per 10 grams (inclusive of all taxes) from its previous close of Rs 1,25,300 per 10 grams. “Gold dipped further on Tuesday and extended losses due to diminishing safe haven demand. Selling accelerated and the yellow metal prices slid to a three-week low.

“This decline is attributed to technical selling that occurred after an intra-day failure to m

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