Gold prices fall for 2nd day, down ₹9000 from peak; silver up
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Gold prices declined in Indian markets for second day despite positive global cues. On MCX, gold futures were down 0.1% to ₹46,762 per 10 gram while silver rose 0.21% to ₹69,490 per kg. In the previous session, gold had inched 0.22% lower while silver fell 1.5%. Gold has been under pressure this year on fears that prospects of a faster economic recovery will ignite inflation and lead to rising lending rates, especially in the US, where Congress is moving forward on a $1.9 billion stimulus plan. In August, gold had hit a record high of ₹56,200 and has been under pressure since then.