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Gold prices today fall sharply, silver rates crash ₹2,500 in two days

Gold prices today fall sharply, silver rates crash ₹2,500 in two days

Gold prices in India fell for the second day, tracking a decline in global rates after US President Donald Trump suspended stimulus talks with Democrats. On MCX, December gold futures were down 0.9% to ₹50,088 per 10 gram while silver futures fell 1.5% to ₹59,658. In the previous session, gold prices had declined 0.32% per 10 gram amid a choppy trade while silver had tumbled ₹1,450 or 2.3% per kg.In global markets, gold prices were muted, trading at one-week lows after US President Donald Trump abruptly ended talks with Democrats on an economic aid package. Spot gold was flat at $1,877.15 per ounce after falling 2% in the previous session.”Rising coronavirus cases in Europe and persisting worries that Brexit transition period may end without a deal has also kept a floor to the US dollar. While gold benefitted from weaker US dollar, improved risk sentiment reduced its safe haven appeal,” Kotak Securities said in a note.

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