Gold prices today continued their uptrend today for the second day in Indian markets. On MCX, June gold futures rose 0.53% to Rs 46,413 per 10 gram, after a nearly 2% or Rs 850 gain in the previous session. Silver today saw sharper gains, rising 1.2% to Rs 42,210 per kg. After hitting a fresh high of Rs 47,327 per 10 gram, gold rates in India have remained volatile, tracking similar choppy movement in global markets.

In global markets, gold prices moved lower today amid buoyant equity markets. Spot gold eased 0.2% to USD 1,710.23 per ounce after rising nearly 2% in the previous session. A rebound in global oil prices and hopes of more stimulus by governments kept equities afloat. A firmer dollar also weighed on gold, making gold costlier for investors using other currencies. Gold, which is seen as a hedge against inflation and currency debasement, benefits from stimulus measures.