Gold prices today fall sharply, a day after rising ₹700 per 10 gram
- >Gold prices have fallen sharply since hitting a record high of about ₹48,000 per 10 gram last month
- >In global markets, gold prices are set for third weekly drop
Gold prices today fell sharply in Indian markets amid an improvement in risk sentiment as government announced more steps to reopen the economy. On MCX, gold futures fell 0.7% to ₹46,369 per 10 gram, a day after surging about ₹700 per 10 gram. Tracking gold, silver futures on MCX also declined sharply, falling 0.8% to ₹48,402 per 10 gram. Silver had gained 0.64% in the previous session. Domestic equity markets were firm in early trade.The health ministry has issued standard operating procedures to be followed by shopping malls, restaurants, hotels and offices to contain the spread of COVID-19 as India further reopens the economy from June 8.
In global markets, gold prices however edged higher on a weaker US dollar and a pause in the recent rallies in global equity markets. Spot gold was up 0.2% at $1,714.78 per ounce. However, gold was set for a third consecutive weekly drop. The dollar index has fallen over 1.5% this week, making gold cheaper for holders of other currencies
- >Gold prices have fallen sharply since hitting a record high of about ₹48,000 per 10 gram last month
- >In global markets, gold prices are set for third weekly drop
Gold prices today fell sharply in Indian markets amid an improvement in risk sentiment as government announced more steps to reopen the economy. On MCX, gold futures fell 0.7% to ₹46,369 per 10 gram, a day after surging about ₹700 per 10 gram. Tracking gold, silver futures on MCX also declined sharply, falling 0.8% to ₹48,402 per 10 gram. Silver had gained 0.64% in the previous session. Domestic equity markets were firm in early trade.
The health ministry has issued standard operating procedures to be followed by shopping malls, restaurants, hotels and offices to contain the spread of COVID-19 as India further reopens the economy from June 8.
In global markets, gold prices however edged higher on a weaker US dollar and a pause in the recent rallies in global equity markets. Spot gold was up 0.2% at $1,714.78 per ounce. However, gold was set for a third consecutive weekly drop. The dollar index has fallen over 1.5% this week, making gold cheaper for holders of other currencies
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