Gold and silver saw profit booking in the morning session on Monday as equities across the world continued their climb on hopes of swift economic recovery.
Asian shares held near four-month highs as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery even as surging coronavirus cases remained a worry.
Gold futures were down 0.36 per cent or Rs 174 at Rs 47,872 per 10 grams. Silver futures dipped 0.35 per cent or Rs 172 to Rs 49,005 per kg.
Globally, gold prices edged higher as worries over a surge in coronavirus infections in the United States dented optimism about signs of a nascent economic recovery, prompting investors to seek the safe-haven metal.
Gold has also been benefiting from lower interest rates around the world and widespread stimulus measure from major central banks as it is widely viewed as a hedge against inflation and currency debasement.