Gold Price Today, 20 May 2021: Gold, silver prices extend decline on lackluster global cues

Gold is seen as a hedge against inflation, but an increase in rates from the Fed will dull bullion`s appeal in international markets.

New Delhi: Gold and silver prices have been easing lately with silver prices witnessing downfall for the third straight day on Thursday Gold futures for June delivery on MCX fell On MCX, gold futures were down 0.39% to Rs 48,483 per 10 grams while silver future for was off 0.4% to ₹72,073 per kg. International Gold prices climbed on Thursday, aided by growing U.S. inflationary pressure, although gains were curbed as the dollar rebounded and U.S. Treasury yields rose after Federal Reserve policymakers hinted at a possible shift in future policy. Spot gold was up 0.3% at $1,875.74 per ounce by 0525 GMT. U.S. gold futures eased 0.3% to $1,876.20, a Reuters report said.