Gold prices were muted today in domestic markets amid a stronger rupee. On MCX, gold futures fell about ₹80 per 10 gram to ₹41873 before paring some losses. In the previous session, gold had surged over ₹500 per 10 gram. Silver futures on MCX however posted strong gains, rising 0.7% to ₹45,313 per kg. The rupee today pulled back to 72.59 against the US dollar after falling to 72.73 in the previous session. Global rates, rupee dollar exchange rate and import duty (currently at 12.5%) determine the domestic price of gold. GST at the rate of 3% is also levied on gold purchases.
#Gold prices today fall after sharp rise but silver rates move higher
