December 4, 2020

gold fee right now: Gold costs right now rise to Rs 49,000 on surging Covid-19 circumstances

NEW DELHI: Gold and silver edged larger within the morning commerce on Monday as nervous by rising Covid circumstances in India and different components of world, buyers rushed away from dangerous belongings and in direction of secure haven.

India has reported 8.Eight lakh circumstances of Covid-19 until now, the third highest on the earth, with over 23,100 deaths. As a consequence of this many states have elevated restrictions on companies and motion, threatening financial restoration.

Gold futures had been up 0.36 per cent or Rs 177 at Rs 49,040 per 10 grams. Silver futures gained 1.20 per cent or Rs 618 to Rs 51,980 per kg.

Gold costs within the nationwide capital rose marginally to Rs 49,959 per 10 gram on Friday, in line with HDFC Securities. Silver declined by Rs 352 to Rs 52,364 per kg.

Globally, gold costs rose holding floor above the important thing $1,800/ounceslevel, as a weaker greenback and worries over surging COVID-19 circumstances across the globe saved the safe-haven metallic underpinned.

Spot gold was up 0.three per cent at $1,803.80 per ounce by 0303 GMT. US gold futures rose 0.four per cent to $1,809.10.

The greenback index fell 0.2 per cent in opposition to its rivals, making gold cheaper for holders of different currencies.

Gold is used as a secure funding throughout occasions of political and monetary uncertainty.

Indicative of investor sentiment, speculators elevated their bullish positions in COMEX gold and silver contracts within the week to July 7, the US Commodity Futures Buying and selling Fee mentioned on Friday.

Elsewhere, palladium gained 0.9 per cent to $1,987.77 per ounce, platinum rose 2.four per cent to $834.05 and silver climbed 1 per cent to $18.86.