Monday turned out to be a rough day for precious metal investors as gold and silver prices dropped by nearly 2 percent. On the Multi Commodity Exchange, gold futures fell by ₹859 to settle at ₹1,51,793 per 10 grams, while silver futures tumbled ₹4,693 to trade at ₹2,38,581 per kilogram.

On the international front, gold slipped 0.84 percent to $4,747 per ounce and silver weakened 2.33 percent to $74.70 per ounce. Market experts attribute this decline primarily to a strengthening dollar index and crude oil surging over 8 percent past the $100 mark. The stronger dollar also put pressure on the rupee, which opened 55 paise weaker. Analysts note that gold faces resistance at $4,750-$4,770 on COMEX, and if it breaks below $4,650, a further slide toward $4,570 cannot be ruled out. Investors are being advised to remain cautious in the current market environment.