Gold prices have been on a free fall in the last couple of days and closed at ₹1,27,633 per 10 grams on Monday against a new high of ₹1,29,584 logged on Friday after investors preferred to book profit.

The jewellery demand in India is also expected to ease with peak Dhanteras and Diwali season coming to an end.

Despite the recent fall both the precious metals remain significantly higher year-to-date, supported by Fed easing expectations and lingering safe-haven demand.

Despite the spike in gold prices globally, the rise in India was capped as rupee appreciated against dollar.

In the international markets, gold plunged 6.2 per cent to about $4,100 an ounce and silver dropped over 5 per cent below $50 and ounce, marking their sharpest one-day declines in years after both metals recent

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