Gold prices in India fell today, extending sharp losses of the previous session. On MCX, August gold futures fell 0.20% to ₹46,470 per 10 gram after tumbling ₹556 in the previous session.
Tracking gold, silver also edged lower. On MCX, July silver futures fell 0.51% to ₹48,830 per kg. Silver had declined about ₹1,500 in the previous session.
An appreciation of rupee against US dollar also put pressure on domestic gold prices. Gold prices in India include 12.5% import duty and 3% GST.
In global markets, gold prices dipped today as equity markets continued to rally on optimism over reopening of economies. Spot gold was down 0.2% at $1,722.93 per ounce.
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