In early trading on Monday, the price of 24-carat gold in India fell by ₹10, bringing the cost to ₹1,59,050 per ten grams. Similarly, 22-carat gold also decreased by ₹10, now priced at ₹1,45,790 for ten grams. The price of silver saw a decline of ₹100, trading at ₹2,84,900 per kilogram in major cities such as Delhi, Kolkata, and Mumbai. In Chennai, the prices for 24-carat and 22-carat gold were slightly higher at ₹1,60,680 and ₹1,47,290, respectively. This drop in gold prices occurs against the backdrop of rising global gold prices, which increased by 1.4% to $4,570.88 per ounce, driven by a weaker dollar and lower oil prices. The ongoing discussions regarding US-Iran peace negotiations are also influencing market sentiments. Despite the global rise, Indian gold prices have been trading at a discount due to local price volatility, which has dampened demand.