Gold Plunges to Rs 1.37 Lakh, Silver Dips 6% on MCX Amid Strong Dollar, Profit Booking

• Precious metals experienced a sharp decline on Monday, with gold falling to Rs 1.37 lakh per 10 grams and silver nearly 6% on MCX.
• MCX gold futures for April 2 expiry traded at Rs 1,37,768, down 4.65%, after touching an intraday low of Rs 1,36,403.
• Silver futures for May 5 expiry dropped 5.61% to Rs 2,14,049 per kg, having slipped close to 6% earlier.
• The decline is attributed to a stronger US dollar, which reduces the appeal of non-yielding assets like gold and silver.
• Profit booking after a recent rally, geopolitical tensions, and upcoming Federal Reserve signals on interest rates are also influencing prices.