New Delhi: Due to the fall in the international markets, the prices of gold and silver in the domestic market also fell on Tuesday. On MCX in early trade today, gold October futures fell 0.5 per cent to 50,803 per 10 grams. Silver December futures also fell by 0.6 per cent to 67,850 per kg. Earlier in the previous session, gold futures had strengthened by 0.7 per cent. On Monday, silver futures had jumped 1.6 per cent. Gold is still cheaper by about Rs 5000 and silver by around Rs 10,000 from the previous month's upper levels.
In international markets, today gold prices have fallen. Gold prices have fallen due to a strong US dollar. However, gold prices have been affected due to the increase in coronavirus cases all over the world. Spot gold fell 0.2 per cent to USD 1,925.68 an ounce in the overseas market today. The dollar index rose 0.45 per cent against its rival currencies, making gold more expensive for holders of other currencies.
Analysts said that cases of corona infection are increasing in the country and the world and the US-China conflict is increasing. Analysts say that consumer demand is weak even in big markets like India and China. Kotak said that investors are advised to buy on falling gold.
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