NEW DELHI:
Gold and
silver saw profit booking in the morning session on Tuesday as equities across the world continued their climb on hopes of swift economic recovery. Meanwhile, a sharp rise in
Covid-19 cases kept the losses in check.
India on Monday overtook Russia to record the world's third-highest number of Covid-19 infections, while US
coronavirus deaths crossed 130,000 amid a surge in cases. More than 11.56 million people have been reported to be infected by the novel coronavirus globally and 534,829 have died.
Gold futures were down 0.03 per cent or Rs 15 at Rs 48,210 per 10 grams. Silver futures dipped 0.21 per cent or Rs 107 to Rs 49,683 per kg.
Gold prices fell by Rs 42 to Rs 48,964 per 10 gram in the national capital on Monday, according to
HDFC Securities.Silver prices also declined by Rs 1,217 to Rs 49,060 per kg.
Globally, gold prices edged higher on Tuesday, hovering near an eight-year high, as concerns over surging coronavirus cases around the world kept bullion's safety demand elevated.
Spot gold was 0.1 per cent higher at $1,784.99 per ounce by 0037 GMT, just $3.97 shy of a near eight-year high of $1,788.96, which was hit last week. US gold futures were mostly unchanged at $1,794.20.
Palladium dropped 1.1 per cent to $1,919.08 per ounce, while platinum gained 1.1 per cent to $821.76. Silver rose 0.5 per cent to $18.30.