Gold prices in India fell today after rising closer to record highs in the previous session. On MCX, August futures rates slipped 0.2% to ₹ 48,712 per 10 gram while silver futures edged 0.3% lower to ₹ 50,067 per kg. In the previous session, gold had surged 1.2% while silver 0.9%, tracking firm global rates. Last week, gold prices had surged to a record high of ₹ 48,982 per 10 gram.
In global markets, gold prices were steady at over eight-year high boosted by safe-haven demand due to surging coronavirus cases across the world. Expectations of more stimulus measures to prop up the economies also helped support gold.