Gold prices struggled on Thursday a day after they had crossed the Rs 49,000 per 10 gram mark during intra day deals. On MCX, gold June futures were trading at Rs 48,795 per 10 gram, as against the previous close of Rs 48,784.
Silver July futures were trading weak at Rs 71,374 per kg, down Rs 37, as compared to the last close of Rs 71,411. COMEX gold was trading 0.4 per cent lower at near $1893/oz after a 0.2 per cent gain in the previous session.
In the global market, gold prices retreated from a four-month high on the back of a rise in the US dollar and bond yields, while investors awaited key economic readings out of the United States this week.
Spot gold was down 0.1 per cent at $1,894.88 per ounce after hitting its highest since January 8, 2021 at $1,912.50 on Wednesday. US gold futures declined 0.3% to $1,898 per ounce.