Gold prices in India fall for 2 days in a row
World+Biz
Gold prices in India fell for the second day in a row despite positive cues in the global market as a new wave of coronavirus infections in some countries raised expectations of further stimulus measures and lower interest rates.
On the Multi Commodity Exchange (MCX), gold futures fell by as much as Rs 139 per 10 grams or 0.30% to Rs 45,673 per 10 grams, compared to the previous close of Rs 45,812.
At 12:01am, the gold futures contract (delivery on June 5) traded down 0.03% at Rs 45,800 per 10 grams.
Gold futures had registered an all-time high of Rs 47,327 per 10 grams in late March, as the coronavirus pandemic boosted the yellow metal's appeal among investors as a safe haven.
Globally, gold prices were higher and held above the key $1,700 per ounce level as a new wave of coronavirus infections in some countries raised expectations of further stimulus measures and lower interest rates.
Spot gold gained 0.5% to $1,708.75 per ounce by 0325 GMT (8:55am India time), having lost about 1% in the previous session. US gold futures eased 0.1% to $1,711.70 per ounce.
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