Mumbai, Nov 3 || Spot gold prices slipped below the $4,000 per ounce after a significant increase this year, dipping 2.7 per cent from last week to $3,984.43 an ounce, data showed on Monday.
The price of 10 grams of 24-carat gold was Rs 1,21,113 during the day trade, according to data published by the India Bullion and Jewellers Association (IBJA).
Analysts said the moderation in demand came as trade tensions between the US and China cooled and the dollar index jumped to its highest in three months.
After a sharp rally, gold and silver lost some shine last week.
Further Beijing's decision to end a long-standing tax rebate for certain retailers is expected to weaken demand in one of the world's largest bullion markets, according to multiple media reports.