On MCX, gold futures were up 0.2% to Rs 44,295 per 10 grams, after falling to Rs 44,150 in the previous session
Gold prices have declined by over ₹12,000 per 10 gram from its highs of Rs 56,200 in August 2020
Experts believe increase in the pace of the vaccinations and the additional fiscal stimulus expected in the US may continue to weigh on gold prices
Gold and silver prices are expected to slip further on the back of rise in US dollar, feel experts
Gold prices may correct further as rising bond yields and positive outlook on economic growth seems to have faded the demand for gold, say experts
The precious metal has been under pressure since the start of this year amid hopes of faster global economic recovery and rising US bond yields
The demand for the yellow metal therefore may remain elevated as it considered a hedge against inflation and currency debasement, expert said.
Gold may test levels of Rs 47,500-47,700 in the near term, said Kunal Shah, Head-Commodities & Currency Research at Nirmal Bang