Gold slips below Rs 1.59 lakh/10g amid fresh West Asia tensions

NEW DELHI: (Jun 8) Gold prices fell Rs 1,100 to Rs 1.58 lakh per 10 grams in the national capital on Monday, as investors dumped precious metals amid rising crude oil rates following fresh escalating tensions in West Asia.

According to local marketmen, the price of gold of 99.9 per cent purity declined by Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday’s closing level of Rs 1,59,900 per 10 grams.

Silver also remained under intense selling pressure, plunging Rs 5,000 to Rs 2,55,700 per kg, extending losses for the fourth consecutive session. The white metal has shed Rs 15,300, or nearly 6 per cent, from Rs 2.71 lakh per kg recorded on June 2.