Gold prices down below 50K, a first in 5 months; silver falls to Rs 55,130

In global markets, gold rates, on Thursday, fell to lowest in nearly a year, buffeted by an elevated US dollar. 

In India, the fall has been less steep due to the recent import duty hike on the yellow metal. MCX gold futures were down 0.5 per cent to Rs 49,772 per 10 gram, the lowest since February, while silver fell 0.88 per cent to Rs 55,130 per kg. 

India imports most of its gold requirement. Besides global rates and rupee-dollar movement, domestic prices also track change in different levies like import duty and the goods and services tax.

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