Gold Prices Fall To Levels Below Rs. 50,000; Silver Plunges 10%: Here’s What To Expect

In the morning session on September 21, 2020, while even as international rates traded higher, gold prices in India were beaten down despite the coronavirus led curbs globally and weaker dollar.

And as the day progressed there was seen a sell-off similar to the equity markets in gold too, which plunged to levels below Rs. 50000, hitting an intra-day low of Rs. 49815 in the futures market, to settle down by 2.41% or Rs. 1244 at Rs. 50471 per 19 gm and silver too bleeded heavily by close to 10% to settle down by Rs. 6561 at Rs. 61,316 per kg.

Here are suggested reasons for the possible drag on the precious metal prices and what should expect going ahead:

{photo-feature}