Categories: Business

Gold future price cross Rs 49000 per 10 gram level on corona crisis

Photo: PIXABAY

Gold future price

new Delhi. On Wednesday, for the first time in the domestic futures market, prices rose by breaking the psychological level of Rs 49000 per 10 gram to Rs 49045 per 10 gram, due to the sharp rise in gold amid the Corona crisis. At the same time, the price of gold in the international market also crossed $ 1815 an ounce.

After midday on the Indian futures market Multi Commodity Exchange (MCX), the August futures contract of gold was trading at Rs 49020 per 10 gram, up by Rs 220, or 0.45 per cent, from the previous session, whereas the price of gold on MCX was earlier at Rs 49045. Per 10 grams, which is the highest level ever.

On the MCXP, silver prices rose by Rs 441, or 0.88 per cent, to Rs 50,643 per kg in the September contract. Meanwhile, gold on Comex was trading at $ 1815.15 an ounce, an increase of $ 5.25, or 0.29 per cent, from the previous session in August, while the previous price rose to $ 1815.85 an ounce, which is the highest level since 2011.

Market experts say that during this time of crisis, there is a tendency of investors towards gold as the safest means of investment. Due to Corona, there has been a sharp decline in economies across the world. Investors are also uncertain about recovery due to no signs of control from the epidemic. Due to this, the equity market also has a fluctuating trend. In such a situation, gold has become the best investment option for investors. Gold prices continue to rise as investment demand increases.

This post was published on July 8, 2020 6:05 pm

Content Team

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