New Delhi, May 12 -- Gold prices on Multi Commodity Exchange of India (MCX) declined sharply on Monday, tracking a fall in international bullion prices, as optimism over US-China trade deal improved investor risk-appetite and dented safe-haven appeal for the yellow metal.

MCX gold rate opened lower at Rs.95,500 per 10 grams as against its previous close of Rs.96,518. At 9:05 AM, MCX gold price was trading lower by 2,253 Rs., or 2.33%, at Rs.94,265 per 10 grams. MCX Silver rate was trading lower by Rs.578, or 0.60%, at Rs.96,151 per kg.

In the global markets, gold prices slipped as optimistic signals from US-China trade talks alleviated market fears, leading investors to shift from safe-haven assets towards riskier investments.

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