New Delhi: Indian markets fell for the third day today due to a fall in international markets. Gold futures fell 0.01 percent to Rs 46,464 per 10 grams on MCX after two days of continuous decline, while silver futures rose 0.2 percent to Rs 66,300 per kg.
Gold lost 0.41 percent in the previous session, while silver fell 1.3 percent. Gold has fallen by 3,500 rupees so far this year. Gold prices fell today amid us bond yields and strong dollars in international markets. Gold had recorded a record high of 56,200 in August last year. Gold is 10,000 rupees cheaper than the record level. The rupee fell more than two percent last week. This is the biggest ever decline since August 30, 2013.
India is the world's largest gold importer. Gold is imported mainly to meet the demand of the jewelry industry. India imports 800 to 900 tonnes of gold annually in terms of quantity. For the third day in a row, gold prices have fallen.