The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Gold Rate Today: Gold, silver upbeat as coronavirus death toll rises

    Synopsis

    China's Hubei province, where the virus is believed to have originated, reported 242 new deaths, double the previous day's toll, and confirmed 14,840 new cases on February 12.

    Reuters
    A Reuters technical analyst said spot gold is poised to break support at $1,563 per ounce, and fall to the next support at $1,545.

    Commodity Summary

    MCX
    Bullion counters were upbeat in Thursday’s session as traders rushed to safe havens after the number of new cases and deaths due to Coronavirus rose exponentially in China.

    China's Hubei province, where the virus is believed to have originated, reported 242 new deaths, double the previous day's toll, and confirmed 14,840 new cases on February 12.

    Gold futures were up 0.34 per cent at Rs 40,622 per 10 grams while silver futures gained 0.56 per cent to Rs 45,755 per 1 kg.

    Globally too gold prices rose as a surge in the number of new coronavirus cases in China dashed hopes that the epidemic was slowing and drove investors to safe-haven assets.

    Spot gold was up 0.4 per cent to $1,571.70 per ounce. US gold futures gained 0.2 per cent to $1,574.90.

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

    DateGold Spot Price
    Rs/10 grms (AHMEDABAD)
    Gold Future Price
    Rs/10 grms Expiry: 05-Feb-2021
    27-01-20214923948871
    22-01-2021049140
    18-01-2021048910
    15-01-2021048700
    13-01-2021049285
    12-01-2021049137
    08-01-20215067948965
    07-01-2021050926
    05-01-2021051480
    01-01-2021050258
    30-12-2020050128
    29-12-20204985149990


    A Reuters technical analyst said spot gold is poised to break support at $1,563 per ounce, and fall to the next support at $1,545.

    These supports are identified as the 38.2 per cent and the 61.8 per cent projection levels of a downward wave C from $1,591.46. This wave is expected to travel to $1,516.

    Elsewhere, palladium fell 0.7 per cent to $2,386.83 per ounce, silver rose 0.8 per cent to $17.60, while platinum gained 0.2 per cent to $963.14.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    The Economic Times