Gold prices in New Delhi witnessed a significant drop of Rs 1,000 to reach Rs 98,400 per 10 grams, in line with the subdued global market performance. The diminishing trade tensions between the United States and China, coupled with the strength of the dollar, led to a decrease in the demand for safe-haven assets, ultimately affecting the bullion market. The price of silver also saw a notable decline amidst these market dynamics. Investors are now keeping a close watch on global tariffs and the forthcoming economic data from the United States, as these factors are expected to continue influencing the prices of precious metals.