Gold and silver prices extended their losses on Tuesday, mirroring weakness in global markets. Optimism over easing trade tensions between the US and China, coupled with a stronger US dollar, weighed heavily on precious metals.

PRICES SLIP ON MCX

On Tuesday, on the Multi Commodity Exchange (MCX), gold opened 0.7% lower at Rs 1,20,106 per 10 grams, down from Rs 1,20,957 in the previous session. Silver also followed suit, opening 0.69% lower at Rs 1,42,366 per kg.

At the time of closing, gold was trading 2.06% lower at Rs 1,18,461 per 10 grams, while silver slipped to Rs 1,41,424 per kg, down by 1.36%.

GLOBAL FACTORS PRESSURING BULLION

The fall comes after a strong two-month rally , with traders now booking profits amid changing global cues. Rahul Kalantri, VP – Commodities at Mehta

See Full Page