Gold prices tumbled by Rs 4,100 to Rs 1,21,800 per 10 grams in the national capital on Tuesday, tracking a sharp decline in global markets where the yellow metal fell below the USD 4,000 per ounce mark. The drop came as easing US–China trade tensions reduced the metal’s safe-haven demand.

According to the All India Sarafa Association, gold had closed at Rs 1,25,900 per 10 grams on Monday.

In the local bullion market, 99.5% pure gold also slipped by Rs 4,100 to Rs 1,21,200 per 10 grams (inclusive of all taxes) from the previous close of Rs 1,25,300 per 10 grams.