
Analysts believe the lower prices of gold and silver in physical markets is expected to push demand further.

On MCX, gold futures were up 0.2% to Rs 44,295 per 10 grams, after falling to Rs 44,150 in the previous session

Gold prices have declined by over ₹12,000 per 10 gram from its highs of Rs 56,200 in August 2020

Experts believe increase in the pace of the vaccinations and the additional fiscal stimulus expected in the US may continue to weigh on gold prices

Gold and silver prices are expected to slip further on the back of rise in US dollar, feel experts

Gold prices may correct further as rising bond yields and positive outlook on economic growth seems to have faded the demand for gold, say experts

The precious metal has been under pressure since the start of this year amid hopes of faster global economic recovery and rising US bond yields

The demand for the yellow metal therefore may remain elevated as it considered a hedge against inflation and currency debasement, expert said.

Gold may test levels of Rs 47,500-47,700 in the near term, said Kunal Shah, Head-Commodities & Currency Research at Nirmal Bang