Gold Price Today: Yellow metal slips below Rs 43,000 after rising for five days in a row

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Gold prices in India fell on Tuesday on profit-taking after rising for five days in a row, tracking a decline in global rates. On the Multi Commodity Exchange, April Gold prices declined 1.34% or ₹584 to ₹42,996 per 10 gram after the yellow metal hit a seven-year high in the previous session. While silver futures plunged 1.67 per cent or Rs 825 to Rs 48,580 per kg.

Gold and silver extended gain on Monday due to turmoil in global equities. International Gold reached a fresh seven-year high and test $1,689 per troy ounce. Silver also tests a high of $18.93 per troy ounce.

Over the past five days, gold prices had rallied about ₹3,000 per 10 gram. Gold prices on Monday soared Rs 953 to Rs 44,472 per 10 gram in the national capital on weaker rupee and rise in global prices, according to HDFC Securities. Silver prices also rose by Rs 586 to Rs 49,990 per kg from Rs 49,404 per kg.

Spot gold prices fell to $1,642.89 after hitting a multi-year high of $1,688.66 in the previous session. A rise in a number of coronavirus cases outside China supported gold on the downside.

Also Read: Gold Rate Today: Gold prices hit record high again, crosses Rs 43,000 per 10 gram