On Tuesday, gold prices in India were poor, as the global yellow metal hovered near a four-week low. Gold August futures were trading at Rs 50,542 per 10 gramme on the Multi Commodity Exchange, down Rs 122 or 0.24 percent from their previous close of Rs 50,664 per 10 gramme. On the MCX, July silver futures were trading at Rs 60,122 per kilogramme, down Rs 189 or 0.3 percent. On a global scale, gold was down as a strong dollar stifled safe-haven demand fueled by fears of an economic downturn and the potential of aggressive monetary policy tightening. After dipping to its lowest level since May 19 at $1,810.90 earlier in the session, spot gold was up 0.3 percent at $1,823.69 per ounce. Gold futures in the United States lost 0.4 percent to $1,825.20.
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