Rs 8,089 to Rs 1.36 lakh/10g on global selloff, inflation fears

Gold prices plunged sharply by Rs 8,089 to Rs 1.36 lakh per 10 grams in futures trade on Monday, tracking a global selloff amid rising inflation fears and a firm US dollar.

On the Multi Commodity Exchange, the yellow metal for April delivery slumped by Rs 8,089, or 5.6 per cent, to Rs 1,36,403 per 10 grams.

Last week, gold had dropped Rs 13,974, or 8.82 per cent, to close at around Rs 1.44 lakh per 10 grams on the commodities bourse.