Gold prices fell sharply in India today, tracking muted global rates. Some profit-taking was also seen after strong gains in the previous two sessions.
On MCX, June gold futures fell 0.72% or ₹329 to ₹45,478 per 10 gram. Tracking gold, silver rates also eased 0.26% to ₹41,137.
Over the past two sessions, gold prices in India had spiked about ₹1,000 per 10 gram. In global markets, gold prices today remained flat as risk sentiment was lifted as a slew of countries tentatively eased coronavirus lockdowns.
On the other hand, tensions between the US and China over the coronavirus outbreak helped keep gold near the key $1,700 per ounce level.