Gold price falls in a row after hitting record high

Gold prices fall for third day in a row after hitting record highs. Gold prices in Indian edged lower today, declining for the third day. But the losses have been moderate as concerns over rising coronavirus cases have supported global rates. On MCX, golddipped 0.02% to ₹47,930 per 10 gram.
Gold prices in global markets were flat today as a surge in coronavirus infections across the world propped up the safe-haven demand of the precious metal. Spot gold was up 0.1% to $1,775.97 per ounce. Among other precious metals, platinum rose 0.8% to $806.30 while silver eased 0.1% to $18.02.
Spot gold has risen 17% this year as lower interest rates around the world and widespread stimulus measure from major central banks have boosted demand for the metals. Gold is widely viewed as a hedge against inflation and currency debasement.

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