For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Price In India Run Up For Third-Straight Day; Nears Rs. 47,000/10 gm

|

Gold prices in India continue their run-up for the third straight day and nears record high price. In the futures market, gold for delivery in June on the MCX was last trading higher by 0.42% or Rs. 196 at Rs. 46850, while it touched a high of Rs. 46948per 10 gm.

Gold Price In India Run Up For Third-Straight Day; Nears Rs. 47,000/10 gm
 

In April, gold prices recorded a life time high of Rs. 47327 per 10 gm.

In the international market, gold prices continue to soar on another possible stimulus in the US and worsening US-China tensions over the virus. Spot gold climbed 0.1% to $1730.56 per ounce by 0142 GMT. In the earlier session, gold scaled to a three-week high price of $1,735.96.US gold futures climbed 0.1% to $1,742.30.

Factors fuelling the run-up in gold:

1. Fear of second wave of coronavirus infection as economies begin to reopen after extended lockdown

2. Additional stimulus measures by central banks

3. Heightening of US-China tensions

4. Weak economic data

Nonetheless the gains remain capped owing to strength in the US dollar and as there have been seen some recovery in the US equity markets.

Back home, the second issue of the sovereign gold bond 2020-21 that opened on Monday for subscription will close today. The issue price for the latest scheme has been fixed at Rs. 4590 per gram.

GoodReturns.in

Read more about: gold gold prices
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more