Gold and silver prices fell in India even today. October gold futures on MCX fell 2.6 per cent or Rs 1,400 to Rs 50,550 per ten grams. If we talk about silver, the futures rate of silver on MCX was reduced by four percent or Rs 2,700 per kg to Rs 64,257.
In the last session, the price of gold fell by about 6 percent i.e. Rs 3,200 per ten grams, while silver fell by 12 percent i.e. Rs 9,000 per kg. Thus in just 2 days, gold became cheaper by more than Rs 4,500 and silver was about Rs 11,700. Last week, gold prices in the country had risen to over 56,000, while silver had reached a level of around 78,000.
Gold prices continued to fall in the world markets today. Gold spot fell 2.1 percent to $ 1,872.61 an ounce, while US futures were below $ 1,900. Silver futures also fell sharply and fell by 7 percent to $ 24.2 an ounce. After going above $ 2,000 an ounce last week, gold fell suddenly due to dollar recovery. The dollar index remained stable against major currencies today. The sharp fall in gold prices has started the flow from Gold ETFs. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund or gold ETF, said its holding fell 0.3 percent to 1,257.93 tonnes on Tuesday.
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