Gold prices fell in Indian markets on June 15, tracking a decline in global rates. On MCX, August gold futures fell Rs 600 to Rs 46,755 per 10 gram, after a 0.12 per cent slide in the previous session. July silver futures declined Rs 750 to Rs 46,953, following a Rs 900 slide on June 12. 

In India, physical demand of gold remained less even as jewellery stores reopened. Domestic gold prices include 12.5 per cent import duty and 3 per cent GST.

In global markets, gold rates slipped after strong gains in the previous week. Spot gold was down 0.7 per cent at $1,718.13 per ounce, after the precious metal posted gains of over 2.5 per cent in the previous week. 

Among other precious metals, silver fell 1.7 per cent to $17.14, and platinum fell 0.6 per cent to $800.59 indicative of investors' preference for safer assets like gold, the holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund (ETF), rose 0.1 per cent to 1,136.22 tonnes on June 12. In India, gold exchange traded funds or ETFs saw net inflows of Rs 815 crore in May as investors  sought safe haven options amid stock market volatility and the coronavirus crisis, higher than the net Rs 731 crore infused in April.

A surge in gold prices this year also weighed on demand, say analysts. Year-to-date, domestic gold prices are up about 20 per cent, tracking a rise in global rates, following 25 per cent gain last year.

• * Year-to-date, domestic gold prices in India are up about 20 per cent, following 25 per cent gain last year
• * In India, gold exchange traded funds or ETFs saw net inflows of Rs 815 crore in May as investors  sought safe haven options