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Gold prices today leap as rising Covid cases lead to flight to safety

NEW DELHI: Gold and silver costs leaped on Friday as rapid building up in coronavirus circumstances hit the chance appetite of traders, leading to rise in call for of protected haven property even because the rupee received in opposition to the USA greenback.

The collection of energetic circumstances have doubled within the ultimate two days to 2,069, as in keeping with the federal government knowledge. World over, the collection of circumstances hit the 1 million mark with just about 53,000 deaths.

Gold futures have been up 1.02 in keeping with cent or Rs 441 to Rs 43,681 in keeping with 10 grams. Silver futures have been up 3.05 in keeping with cent or Rs 1,218 to Rs 41,090 in keeping with kg.

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

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 03-Apr-2020
GoldGold Technical Charts

The Indian spot gold markets remained shut on Thursday due to countrywide lockdown on account of COVID-19, consistent with HDFC Securities. The country is present process a 21-day lockdown since ultimate week.

Globally, gold inched down after emerging 1.4 in keeping with cent within the earlier session because the U.S. greenback firmed, however report prime weekly U.S. jobless claims filings stored a take a look at on bullion's problem.

Spot gold eased 0.1 in keeping with cent to $1,610.64 in keeping with ounce via 0037 GMT. U.S. gold futures slipped 0.1 in keeping with cent to $1,635.50.

The metal was once down over 0.4 in keeping with cent for the week after an eight in keeping with cent bounce within the earlier week

SPDR Gold Trust, the sector's largest gold-backed exchange-traded fund, said its holdings rose 0.33 in keeping with cent to 971.97 tonnes on Thursday.

Palladium fell 0.eight in keeping with cent to $2,196.39 an oz., platinum slipped 0.2 in keeping with cent to $725.52 and silver declined 0.eight in keeping with cent to $14.42. All 3 metals have been set to sign in a weekly loss.

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