On Monday, gold and silver prices are seen falling due to the strong rally in domestic stock markets (Sensex and Nifty), weak global cues and strengthening rupee. The futures price of February contract gold on MCX was down by Rs 145, or 0.36 %, to Rs 39,871 per 10 grams. Silver for the March contract is being sold at a rate of Rs. 46,911 per kg, becoming cheaper by Rs. 256 i.e. 0.55%.

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Last week, Gold Future Rate reached the level of Rs 41,293 per 10 grams due to West Asia tension. With this, there was a spurt in gold perceived as safe haven in anticipation of increasing tension between the US and Iran. In this way, the price of gold has seen a decline of more than Rs 1,400 in the last one week. The price of this precious yellow metal is seen to fluctuate so much due to the height of tension in West Asia. It is notable with this that the region has been in tension ever since the killing of Iran's top commander Qasim Suleimani in the US attack on January 3 and the attack on US military bases in Iran.

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Talking about the global market, the price of gold may fall by 0.4 % to $ 1,555.76 an ounce on Monday. Silver also lost 0.2 % to $ 18.05 an ounce. The impact of this week's trade deal between the US and China is also set to fall in the coming days on the prices of gold, silver, crude oil, world stock markets, currency. It is noteworthy that in the last year, between the US and China, there was an increase of 18 % in the price of gold due to trade war and global concerns.

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