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Gold rate falls on profit booking amid rising Covid-19 cases

With businesses shut in several cities in India amid rising threat of coronavirus, investors are wary of betting on any asset class.

ETMarkets.com|
Last Updated: Mar 30, 2020, 06.04 PM IST
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Reuters
Gold-2---Reuters
"Spot gold markets in India remained shut due to countrywide lockdown to prevent spreading of COVID-19," HDFC Securities said.

Commodity Summary
MCX

GOLD
NEW DELHI: Gold and silver traded lower in Friday's session as investors booked profit, preferring to sit on cash while Covid-19 cases continued to rise in India.

With businesses shut in several cities in India amid rising threat of coronavirus, investors are wary of betting on any asset class. The number of active cases were at 901, as per government data.

Gold futures were down 0.56 per cent or Rs 243 to Rs 43,302 per 10 grams. Silver futures were down 2.92 per cent or Rs 1194 to Rs 39,700 per kg.

Gold Rates - Spot & Futures (.995 purity) (MCX)

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 05-Jun-2020
26-05-20204098946340
22-05-20204098947060
20-05-20204098947152
15-05-20204098947360
13-05-20204098945707
12-05-20204098945922
08-05-20204098945845
01-05-20204098945556
30-04-20204098945735
27-04-20204098946125


Spot gold markets in India remained shut on Friday due to countrywide lockdown, while the precious metal was quoting flat in the international market, according to HDFC Securities.

"Spot gold markets in India remained shut due to countrywide lockdown to prevent spreading of COVID-19," HDFC Securities said.

Globally, gold prices edged up on Monday as the US dollar hovered near a two-week low touched in the previous session, while coronavirus lockdowns tightened across the world and stoked fears of economic damage, lifting demand for safe-haven bullion.

Spot gold was up 0.3 per cent at $1,621.85 per ounce, as of 0029 GMT. US gold futures rose 1 per cent to $1,641.80.

The dollar was holding close to its lowest since March 17, touched on Friday, making gold cheaper for investors holding other currencies.

Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , rose 1.17 per cent to 964.66 tonnes on Friday.

Palladium rose 0.8 per cent to $2,287.98 per ounce, platinum slipped 0.5 per cent to $738.05, while silver eased 0.8 per cent to $14.36.

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