Over the last few days, the gold prices have been dropping significantly. With a variety of factors involved in driving down the gold prices, the US-EU trade might be the core reason for it. Considering the fact that the trade deal is playing a vital role in the gold price fluctuation, the global geopolitical tensions might just be another reason. 

Gold prices since last year have been skyrocketing and have been fluctuating over the one lakh rupee mark. However, MCX Gold August 5 contracts traded with a nominal gain of 0.07 per cent at Rs 97,890 per 10 grams. 

The MCX gold prices on Monday opened at 97,852.00, which was a significant drop in price considering the bullish trend that gold has been indicating for the past few days.