Gold and silver prices India today extended their recent losses, tracking a decline in global rates. On MCX, February gold futures prices fell 0.38 per cent to Rs 39,680 per 10 gram, declining for the third day in a row. In three days, gold has lost nearly Rs 1,000 per 10 gram. Silver futures on MCX also fell 0.34 per cent to Rs 46,419. Gold prices in India had surged to a record high of Rs 41,293 per 10 gram. In global markets, gold prices declined today as an apparent easing in US-Iran tensions boosted investors’ appetite for riskier assets. Gold rates fell to $1,551, after a steep decline in the previous session. Reflecting investor sentiment, the holdings SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.5 per cent to 882.12 tonnes on Thursday. Among other precious metals, silver was flat at $17.89 per ounce.
Globally equities have rallied after US President Donald Trump responded to Iran’s missile attacks with sanctions instead of military action. Also, the US House of Representatives passed a resolution on Thursday to stop Trump from further military action against Iran.
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