Gold prices slipped ₹80 to ₹80,580 per 10 grams, bringing an end to its five-day winning streak in the national capital on Tuesday amid a weak global trend, according to the All India Sarafa Association.

On Monday, the precious metal had closed at ₹80,660 per 10 grams.

Silver also fell sharply by ₹1,300 to ₹91,700 per kg on Tuesday on slack demand from industrial units and coin makers. The white metal settled at ₹93,000 per kg in the previous session.

The price of gold of 99.5 per cent purity fell ₹80 to ₹80,180 per 10 grams from the previous close of ₹Rs 80,260 per 10 grams.

Additionally, gold contracts for February delivery fell ₹16 to ₹78,150 per 10 grams in the futures trade on the Multi Commodity Exchange (MCX).

“Gold traded within a tight range as MCX Gold fluctuated between ₹78,150-78,400. In contrast, Comex Gold displayed slight weakness, hovering around USD 2,665,” Jateen Trivedi, VP Research Analyst — Commodity and Currency at LKP Securities, said.

Silver contracts for March delivery also depreciated ₹128, or 0.14 per cent, to ₹90,385 per kg on the MCX.

Meanwhile, Comex gold futures rose marginally at USD 2,679.50 per ounce in the overseas markets.

“Gold prices declined on Tuesday, weighed down by an increase in US bond yields and the US dollar. The Federal Reserve (Fed) may cut interest rates less this year, as last week’s strong job report supported a rally in US Treasury yields and the US dollar,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

The US 10-year treasury yield, which underlies the global cost of financing, reached a 14-month high on Monday.

“In addition to this risk on sentiment shifted flow from safe haven to riskier assets after news came that members of Donald Trump’s economic team discussed a gradual approach to ramping up tariffs to avoid an inflation spike,” Gandhi said.

However, silver traded flat at USD 30.32 per ounce in the Asian market hours.

According to Abans Holdings Chief Executive Officer Chintan Mehta, markets are now awaiting the release of US Core Producer Price Index data on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday.

Further, investors are also closely monitoring upcoming speeches by Federal Open Market Committee (FOMC) members later this week for further insights into the Fed’s policy direction, Mehta said.