Gold Prices Bounce Back To ₹46,124 Per 10 Gram, Silver Prices Flat At ₹48,452 Per Kg

New Delhi, June 4: Gold prices in Indian bounced back on Thursday in line with the rise in global markets. On MCX, gold futures rose 0.25 per cent to ₹46,124 per 10 gram, after rates fell over ₹1,100 in two sessions while silver was flat ₹48,452 per kg. Silver prices had declined over ₹2,000 per kg in the previous two sessions according to the figures in Mint report. ALSO READ: Centre Takes 'Very Serious Note' Of Pregnant Elephant's Murder In Kerala; Javadekar Says 'Feeding Fire Crackers To Kill Not In Our Culture' Most of the gold in the country is imported and gold prices vary in different parts of the country which comprise 12.5 per cent import duty and 3 per cent GST. Globally, gold prices remained stronger even as it was lowest in over a week as equities extended gains with unlocking of economies worldwide. Spot gold rose 0.4 per cent to $1,703.67 per ounce. Among other precious metals, platinum rose 0.7 per cent to $831.58, while silver was down 0.4 per cent to $17.59. The price of gold is impacted by a weaker dollar which has slipped to March lows amid concerns of the global recovery.   However, the prices on Wednesday were strengthened with expectations of more stimulus. Although the US-China tension escalated with Trump's administration banning Chinese passenger carriers from flying to the US from June 16. The stimulus measures and deep cuts in interest rates have supported bullion prices, which is often seen as a hedge against inflation and currency debasement. Globally, the equity has gained over gold as multiple stimulus packages fuelled global stocks to a three-month high. In Europe, the European Central Bank is expected to unveil an additional 500 billion euros of asset purchases programme on Thursday. Central banks and governments across the world are trying to prep the battered economy with a huge stimulus package to bail the companies out from the Covid-19 induced lockdown. Despite the turmoil, investors are still seeking refuge in the safe-haven metal and investing in gold ETFs. The holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, inched 0.4 per cent higher to 1,133.37 tonnes on Wednesday.