Gold prices drop Rs 187 to Rs 48,859/10 gm as investors chase riskier assets

Gold prices slumped by Rs 187 to Rs 48,859 per 10 gram in the Mumbai retail market on a stronger rupee and a rally in the equity market. The precious metal traded lower on the hope of improvement in the global economic outlook as nations rollout COVID vaccine and investors’ appetite for riskier assets.

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