Gold prices in India plummeted today after reaching a new high in the previous session. On MCX, gold futures were down 0.05% at 49,134 per 10 grams while silver futures were up 0.09% at 51,427 per kg. On MCX, gold prices had risen 0.7% in the previous session while silver had risen 2.2%.
In global markets, the price of gold today plummeted after reaching a nine-year high in the previous session. Spot gold fell 0.2% to $ 1,806, a nine-year high after rising $ 1,817.71 in the previous session.
Among other precious metals, platinum was up 0.3% to $ 846.50, while silver was down 0.7% to $ 18.64.
In India, sovereign gold bonds and ETFs have seen a strong influx of investors. The fourth installment of this year's Sovereign Gold Bonds, which is currently open for membership, will close on Friday. In this issue, the price of one gram of gold has been fixed at 4,852 while the investors applying online and paying through digital mode will get a discount of 50 per gram.