Gold-Silver Prices: Gold and silver prices continue to rise in Corona; futures prices also rise due to strong demand
Due to coronavirus, there is a steady increase in the bullion market. There is a continuous increase in the prices of gold. At the same time, silver is constantly seeing a bounce. Gold prices rose by Rs 179 to Rs 47,452 per ten grams on Monday in the local bullion market amid a sharp trend from global markets. HDFC Securities gave this information. In the previous trade, the closing price was 47,273. Silver also gained Rs 826 to Rs 71,541 per kg. It closed at Rs 70,715 in the previous session.
In the international market, gold gained $ 1,836 an ounce while silver remained almost unchanged at $ 27.65 an ounce. Tapan Patel, senior analyst (commodities) at HDFC Securities, said, “Gold prices rose due to the weakening of the dollar and reduced profitability from US bonds.”
Gold and silver futures also rise
Gold and silver futures prices have risen due to strong spot demand. Speculators bought fresh deals, causing gold to rise by Rs 178 to Rs 47,929 per 10 grams in the local futures market on Monday. At the Multi Commodity Exchange, gold for delivery in the month of June rose by Rs 178, or 0.37 per cent, to Rs 47,929 per 10 grams. It traded for 9,676 lots. Globally, gold rose 0.21 percent to $ 1,835.20 an ounce in New York.
At the same time, silver traders increased the size of their deals, due to which the price of silver rose by Rs 781 to Rs 72,210 per kg in futures trade on Monday. At the Multi Commodity Exchange, the futures contract for July delivery of silver rose by Rs 781, or 1.09 per cent, to Rs 72,210 per kg. In this futures contract, deals were done for 11,011 lots. Globally, silver rose 1.05 percent to USD 27.77 an ounce in New York.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)