Gold price today, May 2 -- After a stellar rally to above the Rs.1 lakh mark, gold prices have moderated lately, crashing Rs.7,000 per 10 grams from their peak, to trade at Rs.93,000 levels on the MCX. Ease in trade tensions and profit taking at higher levels are the factors behind the crash in gold prices.

For this week, MCX gold prices have declined 2.04% to Rs.93,300 level while on the Comex, spot gold has lost 1.8% to trade at $3,255.60 an ounce.

The easing of global trade tensions reduced demand for safe-haven assets, prompting investors to cash in gains. US President Donald Trump's indications of potential trade agreements with South Korea, Japan, and India, along with optimistic comments regarding a deal with China, sparked a shi...