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Gold prices upward push to Rs 51,600 on surge in Covid-19 circumstances


India

Gold prices upward push to Rs 51,600 on surge in Covid-19 circumstances

SynopsisGold prices slipped by Rs 252 to Rs 52,155 per 10 grams within the nationwide capital on Friday amid a stronger rupee, in line with HDFC Securities. Silver prices, on the replace hand, rose by Rs 462 to Rs 68,492 per kg.ReutersGlobally, gold prices rose on Monday to their perfect stage in nearly two weeks,…

Synopsis

Gold prices slipped by Rs 252 to Rs 52,155 per 10 grams within the nationwide capital on Friday amid a stronger rupee, in line with HDFC Securities. Silver prices, on the replace hand, rose by Rs 462 to Rs 68,492 per kg.

Reuters
Globally, gold prices rose on Monday to their perfect stage in nearly two weeks, as ask become as soon as boosted by a weaker buck and the U.S. Federal Reserve’s current protection framework advised that curiosity charges would remain low for a while.

NEW DELHI: Gold and silver prices evolved on Monday as spike in Covid-19 circumstances in India threatens to derail the industrial restoration. India is additionally scheduled to document its GDP print later within the day, which is anticipated to be the worst in a long time.

Global coronavirus circumstances surged previous 25 million on Sunday as India marked a global document for on each day foundation current circumstances within the COVID-19 pandemic. The nation’s affected person depend rose above 36 lakh with 64,600 folks loss of life from it.

Gold futures on MCX had been up 0.27 per cent or Rs 137 at Rs 51,585 per 10 grams. Silver futures climbed 1.89 per cent or Rs 1,302 to Rs 70,139 per kg.

Gold prices slipped by Rs 252 to Rs 52,155 per 10 grams within the nationwide capital on Friday amid a stronger rupee, in line with HDFC Securities. Silver prices, on the replace hand, rose by Rs 462 to Rs 68,492 per kg.

Globally, gold prices rose on Monday to their perfect stage in nearly two weeks, as ask become as soon as boosted by a weaker buck and the U.S. Federal Reserve’s current protection framework advised that curiosity charges would remain low for a while.

Reputation gold become as soon as up 0.4 per cent at $1,971.68 per ounce by 0043 GMT, after hitting its perfect since Aug. 19 at $1,976 in early Asian alternate. However, gold is down nearly 0.2 per cent thus some distance this month. US gold futures rose 0.4 per cent to $1,982.50.

Lower curiosity charges decrease the chance rate of maintaining non-yielding bullion and weigh on the buck, making gold more cost-effective for investors maintaining totally different currencies. The buck index fell 0.2 per cent and become as soon as heading within the correct direction for its fourth consecutive monthly decline.

China’s factory exercise expanded at a moderately slower tempo in August. Japan’s factory output rose for a 2d straight month in July, while retail gross sales fell for a fifth straight month.

Speculators reduced their bullish positions in COMEX gold and raised them in silver contracts within the week to Aug. 25.

On the bodily aspect, sellers in India provided the very perfect reductions on gold in 5 months final week as a dip in domestic prices failed to revive ask.

Silver jumped 1.7 per cent to $27.94 per ounce, platinum rose 0.4 per cent to $935.06, and palladium won 0.6 per cent to $2,217.77.

(What’s transferring Sensex and Nifty Note most recent market news, inventory pointers and expert advice on ETMarkets. Furthermore, ETMarkets.com is now on Telegram. For quickest news alerts on financial markets, funding ideas and shares alerts, subscribe to our Telegram feeds.)

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