Though gold futures opened lower on MCX, it was trading higher in the afternoon trade.
New Delhi: Gold and silver prices witnessed continued downfall on Tuesday. Although Gold is still hovering around Rs 50,000 mark, it is lower by nearly Rs 6,000 from its record price.
Though gold futures opened lower on MCX, it was trading higher in the afternoon trade. At 12.23pm, gold futures on the MCX for December delivery rose 0.08 percent to Rs 50,665 per 10 grams as against the previous close of Rs 50626 and opening price of Rs 50,468. Silver futures for December delivery traded 0.06 percent lower at Rs 61,904 per kg as against the previous close of Rs 61,941 per kg and opening price of Rs 61,790.
Gold prices fell by Rs 389 to Rs 51,192 per 10 gram in the national capital on Monday, in line with a weak global trend, HDFC Securities said. In the previous trade, the yellow metal had closed at Rs 51,581 per 10 gram. Silver prices also declined Rs 466 to Rs 61,902 per kilogram from Rs 62,368 per kilogram in the previous trade.
Though, in the international market, optimism on Trump`s health hit gold and other safe haven assets, spot gold fell 0.1% to $1,911 per ounce, after hitting a two-week peak on Monday, and U.S. gold futures were down 0.21%, a Reuters report added.