Gold and silver prices today extended their decline in Indian markets with precious metals weighed down by a stronger US dollar. On MCX, gold futures fell 0.33% to ₹48,702 per 10 gram in the fifth straight day of decline while silver rates plunged 1% to ₹65,866 per kg. In the previous session, gold had declined 0.11% while silver 0.64%. Gold rates are now down about ₹7,500 from their August highs of ₹56,300.
In global markets, the rate of gold fell low today, influenced by a tougher US dollar. Spot gold soften by 0.3% to $1,839.21 per ounce. A tougher dollar makes gold slightly more costly for the other currency holders. The dollar index got high by 0.12% to 90.745. Overnight, the US Federal Reserve left its important overnight interest rate nearly zero keeping its monthly bond buys together.