Gold and silver fell today in Indian markets after a sell off in the previous session. On MCX, gold futures were down 0.35 per cent to Rs 52,570 per 10 gram, while silver fell 0.8 per cent to Rs 69,039 per kg. In the previous session, gold had slumped Rs 1,500 per 10 gram, while silver had about Rs 2000 per kg. On Wednesday, gold had hit Rs 55,200 at intraday highs. In the global markets, gold extended losses today as risk sentiment improved, following indications that Ukraine was ready for a diplomatic solution with Russia.

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In global markets, spot gold fell 0.5 per cent to $1,982.31 after dropping 2.9 per cent on Wednesday, the most since January 2021. Prices touched $2,070.44 on Tuesday, just $5 short of an all-time high reached in August 2020. Equities also showed strength today, although analysts warned the rally could be susceptible to a sharp reversal as risks remain.