Gold prices fell sharply today in Indian markets, extending losses to the second day. On MCX, June gold futures fell 0.76% or ₹350 per 10 gram to ₹45,840 per 10 gram, following a ₹350 fall in the previous session.
Silver rates saw a sharper correction. On MCX, May silver futures fell nearly 1% to ₹41,560 per kg. Gold prices in India have corrected by around ₹1,500 per 10 gram after hitting a record high of about ₹47,327 per 10 gram earlier this month.
In global markets, gold prices slipped for the third day as some countries geared up about reopening their economies. Spot gold eased 0.7% to $1,702.09 per ounce head of policy announcements from Federal Reserve and the European Central Bank, due on Wednesday and Thursday respectively.