Gold prices in India recovered some ground today after falling for three days in a row. On MCX, June gold futures rose 1% to ₹45,768 per 10 gram.
Last week, gold prices in India had hit a record high above ₹47,000 per 10 gram amid a global rally but later gave up some of the recent gains.
Silver prices however edged lower today, sliding 0.35% to ₹41,602 per kg. In global markets, gold prices remained flat today amid a stronger dollar.
But a selloff in equities supported gold at the lower level. Spot gold was steady at $1,685.46 per ounce after falling as much as 2% in the previous session as investors rushed for cash to cover losses in other asset classes mainly driven by a plunge in oil prices.