Gold Price Set To Record Best Monthly Gain Since 2016 On Stimukus Measures Globally

Gold prices in the international markets has been losing steam as risk sentiment among investors have gained on positive trial results of an experimental Covid 19 and recovery in oil prices in double-digit as storage is filling at a lower rate than expected.

Also, the US Federal Reserve's stance of maintaining zero interest rates and take on any of the measure for combating economic fall-out has helped sentiments.

22K of gold on April 30, 2020 is priced at Rs. 4538 per gm.

In the futures market, gold prices after declining by 1.1% or Rs. 520 in Wednesday's trade climbed on April 30, 2020 by as much as 0.47% or Rs. 216 to Rs. 45,762.

Back home, on Wednesday, gold declined to a one-week low in price as equities were firm in trade and rupee also appreciated to a 1.5 month high. This was also triggered due to profit booking in the precious metal.

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