Gold prices fell for the second day in Indian markets with futures on MCX edging lower by 0.2% to ₹49,122 per 10 grams. Silver futures on MCX were also weak today, falling 0.8% to ₹66,150 per kg, Livemint Reported.
After US presidential elections gold rates moved higher today compared to Indian market with $1.9 trillion stimulus package. Spot gold rose 0.2% to $1,850.36 per ounce.
Financial planners say that gold bonds are one of the most suitable instruments for investors looking to put money in gold for the long term. ETF investors remained on the side-lines, fell 0.9% to 1,161.00 tones on Thursday from 1,171.21 tones on Wednesday.
However, US stimulus may continue to support prices which is a political uncertainty in US amid impeachment proceeding against Donald Trump, Kotak securities Reported.