Gold prices in India are looking flat on Friday. The yellow metal has been under pressure since this week. After a sharp fall in the previous session, a fall in the prices of gold and silver was recorded in the Indian markets today. On the Multi Commodity Exchange (MCX), October futures gold fell 0.03 per cent to Rs 46,060 per 10 grams. At the same time, there was a big fall in the price of silver. December futures silver prices fell 0.37 per cent to Rs 61,306 per kg.
In the previous session, gold had lost 1.7 per cent or Rs 807 per 10 grams. In the last three days, the price of gold has fallen by Rs 1,200 per 10 grams. Silver had lost Rs 2,150 or 3.5 per cent per kg in the previous session. In global markets, spot gold was trading at USD 1,754.86 an ounce after a sharp fall in the previous session. The strong dollar hurt the attractiveness of gold for other currency holders.
Gold and silver open flat in Asian markets
There has been a flat start in the trading of gold and silver internationally in the early hours of Friday in Asia. Unless there is any geo-political tension or a surprise Fed decision, the FOMC meeting next week is unlikely to change the course of gold.