Gold prices witnessed a sharp decline on Monday, with futures plunging Rs 8,089 to Rs 1,36,403 per 10 grams on the Multi Commodity Exchange (MCX), tracking a global selloff driven by rising inflation concerns and a strong US dollar, reported news agency PTI.

Sharp fall continues downward trend

The April gold contract fell 5.6 per cent in early trade, extending last week’s losses when prices had already dropped by Rs 13,974, or 8.82 per cent, to close near Rs 1.44 lakh per 10 grams, reported PTI.