Yellow metal prices were flat on the MCX on Monday as they crawled by 0.1 per cent to reach Rs 48,100 per 10 gram. In the previous session, it was down by Rs 57.7 per 10 gram.
Silver futures on the MCX slid by Rs 252.7 per kg to trade at Rs 68,299 per kg.
Gold spot price was at Rs 48,180 while international yellow metal spot prices saw a jump to reach $1813.9 on Monday.
The fall in gold prices is considered to be a good opportunity for investors to put their money on it, as the rates are expected to rise in the coming weeks, experts said.
Commenting on gold trends, Head of Commodity Research at Kotak Securities, Ravindra Rao said, “COMEX gold trades little changed near $1814 per ounce after a 0.8 per cent decline in previous session. Gold is choppy as support from safe haven buying amid rising virus cases and uneven recovery and rising inflation concerns is countered by firmness in US dollar and weaker investor interest and sluggish consumer demand. Gold may remain choppy however volatility in financial markets may keep prices supported.”