Gold price today: Yellow metal continues to fall; opens Rs 422 lower

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Gold prices opened Rs 422 at Rs 39,307 per 10 gram on the Multi Commodity Exchange (MCX) against the previous close of Rs 39,723 per 10 grams on Thursday.

The gold futures for April delivery fell by 1.39% to Rs 39,170 per 10 gram at 9.05 am on the MCX.

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Silver, however, opened at Rs 34, 572 per kg against previous close of Rs 33,907 per kg on Thursday. Further, silver traded 0.25% higher at Rs 33, 991 per kg.

Gol.d prices on Wednesday fell by Rs 444 to Rs 39,800 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas.

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On the Multi Commodity Exchange, go.ld prices for April delivery fell by Rs 444, or 1.1 per cent, to Rs 39,800 per 10 gram in a business turnover of 4,662 lots.

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Meanwhile, Rupee opened at a record low of Rs 74.95 against the US dollar.

On the contrary, International gold prices went up on Thursday as the European Central Bank announced measures to mitigate the economic effects of coronavirus outbreak.

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Globally, gold was trading 0.78 per cent lower at USD 1,513.90 per ounce in New York.

Spot gold went up by 0.4 % at $1491 per ounce. Earlier, it fell by 3% along with other precious metals on Wednesday.

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