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    Gold rate today rise as recession fears weigh on risk sentiment

    Synopsis

    Gold prices on Friday fell by Rs 222 to Rs 43,358 per 10 gram in the national capital.

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    Gold futures jumped 0.74 per cent or Rs 305 to Rs 41,702 per 10 grams, while silver futures edged 1.59 per cent or Rs 706 higher to Rs 45,109 per kg.

    Commodity Summary

    MCX
    Bullion counters rallied in opening trade on Monday as investors rushed to safe-haven counters as coronavirus cases spreading throughout the world spooked investors of a global recession.

    The worldwide spread of the coronavirus and its implications on the economy had triggered the biggest weekly stock market rout since the 2008 financial crisis last week, wiping $6 trillion off global equities.

    Gold futures jumped 0.74 per cent or Rs 305 to Rs 41,702 per 10 grams, while silver futures edged 1.59 per cent or Rs 706 higher to Rs 45,109 per kg.

    Gold prices on Friday fell by Rs 222 to Rs 43,358 per 10 gram in the national capital in line with weak trend in global markets, according to HDFC Securities. Silver prices also declined by Rs 60 to Rs 48,130 per kg from Rs 48,190 per kg.

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

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 04-Dec-2020
    27-11-20204877848132
    26-11-20204889148474
    20-11-20205016150238
    18-11-2020050310
    16-11-20205073850813
    14-11-20205073850922
    12-11-2020050597
    10-11-2020050518
    06-11-20205219252154
    04-11-2020050821
    30-10-2020050699


    Globally, gold prices rose more than 1 per cent on Monday, following a steep fall across the precious metals complex in the previous session, as worries that the coronavirus epidemic could push the global economy into recession sent investors scurrying for safe havens.

    Spot gold gained 1.2 per cent to $1,602.90 per ounce by 0104 GMT, having slumped more than 4 per cent in intraday trade on Friday. US gold futures rose 1.9 per cent to $1,597.10.

    Palladium rose 0.7 per cent to $2,610.62 per ounce, having slumped as much as 13 per cent in the previous session. Platinum gained 1.9 per cent to $880.10, having touched a six-month low on Friday.

    Silver rose 1.3 per cent to $16.88, backing away from an almost seven-month low touched in the last session.
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    1 Comment on this Story

    giridhar Gowda272 days ago
    safe havens are for them those who have. Now nobody thinks of wearing it. it is 21st century earlier there were period saries and gold wearing in bulk. Who uses in this 21 st century and corona already gave damage to the demand So it is already a great sell. It is a precious metals for those who sell but for them who buy it is just like in this 21 st century. wont get even paper price.
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