Gold prices fall after rising Rs 1,500 over 2 days, silver rates drop
Gold and Silver Price in India Today: The prices of gold and silver in India have fallen on Wednesday following a sharp hike in the last two sessions.
According to the MCX, the gold futures were graphed down by 0.3 percent to Rs 51,546 per 10 gram. On the other hand, the silver futures were down by 0.7 percent to Rs 70,325 per kg.
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As per the previous session, the gold price in India surged to 0.6 percent while the silver price increased to 1.2 percent.
In the past two sessions, the gold futures had increased by Rs 1,500 per 10 gram. As per the report, the MCX gold has support at Rs 51,200.
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Following a 25 percent gain last year, the gold prices are being supported by the surge in coronavirus cases in some parts of the world.
In recent days, the International gold and silver prices have gained in the wake of the rising numbers of Covid-19 cases across the world while several countries have imposed lockdowns and strict restrictions.
These restrictions have led the investors to look up to metals, a report stated.
The gold prices today across the global markets were at $1,948.20 per ounce after hitting a two-month high near $1,955, earlier in the day.
Among other metals, silver shed by 0.7 percent to $27.39 per ounce while platinum was down by 1.4 percent to $1,095.82. Likewise, palladium was eased by 1 percent at $2,442.42.
-PTC News
