Gold prices have been on a free fall in the last couple of days and closed at ₹1,27,633 per 10 grams on Monday against a new high of ₹1,29,584 logged on Friday after investors preferred to book profit. Despite the recent fall both the precious metals remain significantly higher year-to-date, supported by Fed easing expectations and lingering safe-haven demand. Despite the spike in gold prices globally, the rise in India was capped as rupee appreciated against dollar. Silver also faced added pressure after last week’s liquidity crunch in London’s silver market triggered a global rush for physical supply. In MCX, precious metals witnessed mild profit-booking with gold prices falling by ₹271 or 0.21 per cent to close at ₹1,28,000 per 10 grams, while silver slipped ₹327 or 0.22 per cent to ₹1,50,000 per kg.