New Delhi, Mar 04: Gold prices in India fell on Thursday tracking weakness in the global market. On MCX, the yellow metal fell to a 10-month low. Gold April Futures made a low of Rs 44,712 per 10 grams today, down over Rs 11,000 from its August high of Rs 56,200.
However, silver prices witnessed some rebound today. On MCX, Silver March futures rose nearly 0.40% to Rs 66,450 per kg.
Experts say gold is likely to trade sideways for some more days before witnessing a rebound. At present, the precious metal faces resistance at around Rs 45,600 level.
In global markets, gold prices edged lower after US Treasury yields rose, putting pressure on non-yielding assets such as gold and silver. Spot gold fell to a low of $1,704.55 per ounce. Benchmark U.S. Treasury yields after a sharp fall last week settled at 1.47% on Wednesday, making non-interest paying gold unattractive to investors.
