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Gold Prices Fall For 4th Day, Plunge RS. 2500 Per 10 Gram This Week

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Gold and silver prices in India continued their fall today, extending losses to the fourth day. On MCX, October gold futures were down 0.45% to ?49,293 per 10 gram while silver futures lost 3% to ?56,710 per kg. In four days, gold has lost about ?2,500 per 10 gram so far. In the previous session, gold had slumped 1.9% or ?950 while silver had crashed 4.5% or ?2,700 per kg.

In global markets, gold prices continued their downward movement today, falling to a more than two-month low. Investors remained cautious ahead of US jobless claims data due later in the day while a robust dollar weighed on the precious metal.

Spot gold fell 0.3% to $1,858.08 per ounce. The dollar index was firm near a more than eight-week peak against rival currencies amid signs of an economic slowdown in Europe. A stronger US dollar makes bullion more expensive for holders of other currencies. Eurozone economic activity stagnated in September as a summer recovery faltered because of a resurgence in the spread of the coronavirus.


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