Gold slumps Rs 1,150 to Rs 78,350 per 10 gm, silver declines Rs 300

New Delhi: Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said.

The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.

Silver also declined Rs 300 to Rs 92,500 per kg.

The white metal finished at Rs 92,800 per kg in the previous trading session. In the last two trading sessions, it had plummeted Rs 4,500 per kg.

In futures trade on the MCX, gold contracts for February delivery rose Rs 143, or 0.19 per cent, to trade at Rs 77,279 per 10 grams.

Silver contracts for March delivery climbed Rs 319, or 0.35 per cent, to Rs 91,320 per kg on the commodities exchange.

Comex gold futures rose $2.70 per ounce, or 0.10 per cent, to $2,678.50 per ounce in the international markets.

Silver in the Asian trading session traded 0.26 per cent at $31.11 per ounce.

According to the World Gold Council, the precious metal prices are set to

rise more slowly in 2025 after a record-breaking run this year.

However, the gains next year will likely be tempered by variables like growth and inflation.