Gold and silver prices fell in Indian markets today, leading to a drop in global rates. December futures on MCX were trading 0.2% to 50,584 per 10 grams, while silver futures were down 0.35% at 61,882 per kg.
In the previous session, gold prices had risen 0.24%, while silver had risen 0.6%. Globally, gold prices have risen in the last two months. Gold prices in India recorded a record high of 56,200 in August.
In global markets, gold rates fell to a stable US dollar. Gold spot fell 0.1% to $ 1,903.16 an ounce. Among other precious metals, silver fell 0.3% to $ 24.43 an ounce, platinum, and palladium gained 0.1% to close at $ 857.85 per dollar.
In India, gold prices have risen 25 percent this year, in line with global levels. Analysts expect the demand for gold in India to increase in the festive season.