For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Prices Hover Near Record Highs On Firm Global Rates

|

Gold prices in India on June 29, 2020 continue their upward journey and hover close to record high hit last week. On the MCX, August gold futures at 9:20 am traded higher by Rs. 85 or 0.18% at Rs. 48390 per 10 gm. Silver in line also traded firm with gains of 0.48% or Rs. 231 at Rs. 48596 per kg. On June 24, 2020, gold prices on the MCX hit a high of Rs. 48589 per 10gm.

Gold Prices Hover Near Record Highs On Firm Global Rates
 

International gold rates

Gold prices in the international market gain as rising fresh coronavirus cases globally dent optimism around swift economic recovery from the Covid 19 fall-out. In times of economic and geo-political uncertainty, gold gains appeal as a safe-haven asset.

Spot gold was up 0.2% at $1,773.43 per ounce by 0259 GMT. Last week, gold hit a near 8-year high price of $1779.06. U.S. gold futures rose 0.1% to $1,781.60.

As of Sunday, total deaths due to Covid 19 globally reached 0.5 million, while total cases crossed 10 million. Also, California, a US state announced some of the bars to close, rolling back previous efforts of reopening the economy as cases surge across the US.

Meanwhile, traders will keep an eye on Federal Reserve Chairman Jerome Powell's testimony on Tuesday and US payrolls data due to be released on Thursday.

Back home, 22K and 24K gold is priced at Rs. 47370 and Rs. 48370 per 10 gm. Also, dealers are offering steep discounts as record high prices and surging infections restrict gold buying.

GoodReturns.in

Read more about: gold gold prices
Story first published: Monday, June 29, 2020, 10:56 [IST]
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