Gold prices today fell sharply in Indian markets amid an improvement in risk sentiment as government announced more steps to reopen the economy.
On MCX, gold futures fell 0.7% to ₹46,369 per 10 gram, a day after surging about ₹700 per 10 gram. Tracking gold, silver futures on MCX also declined sharply, falling 0.8% to ₹48,402 per 10 gram.
Silver had gained 0.64% in the previous session. Domestic equity markets were firm in early trade. The health ministry on Thursday issued standard operating procedures to be followed by shopping malls, restaurants, hotels and offices to contain the spread of COVID-19 as India further reopens the economy from June 8.