Gold Price Today, 21 May 2021: Gold, silver shed off gains, gold cheaper by Rs 7,800 from record highs

In India, gold prices fell for the third day in the past four days, courtesy of plummeting global rates. On the Multi Commodity Exchange (MCX), gold futures were trading 0.4% lower at Rs 48358 per 10 gram. 

New Delhi: In India, gold prices fell for the third day in the past four days, courtesy of plummeting global rates. On the Multi Commodity Exchange (MCX), gold futures were trading 0.4% lower at Rs 48358 per 10 gram.  However, today’s fall hasn’t impacted the shining metal much because it is still trading at around its four-month highs, cornering concerns of rising inflation and rising Covid-19 cases in India.  The crypto market crash may have also forced investors to bet on safe investment options such as gold. Factors such as improving Covid-19 situation in the US are also fueling the gold’s rally. Gold is said to be having support at Rs 48480-48300 levels on the MCX while silver is having support at Rs 71700–Rs 71100.