Gold Price Today: Domestic Gold Futures Move In Narrow Range Near ₹ 52,00013th August 2020
Gold has been one of the most consistent gainers through the six months of coronavirus-led turmoil in financial markets.
Gold Price In India: Domestic gold futures were stuck in a ₹ 415 range on Thursday, despite the global rate climbing up 1 per cent to trade firm above the $1,900 per ounce mark. Multi Commodity Exchange (MCX) gold futures – due for delivery on October 5 – moved between ₹ 51,950 and Rs 52,365 in morning deals, a day after closing at Rs 52,254. At 9:52 am, the MCX gold futures contract quoted at ₹ 52,100, down ₹ 154 – or 0.29 per cent – from its previous close. (Track Gold Price Here)
In the international market, the price of gold climbed 1 per cent on a softer dollar, with an ultra-low interest rate environment and worries over global economic fallout from mounting COVID-19 cases underpinning its safe-haven appeal.
Spot gold was last seen trading 1 per cent higher at $1,936.99 per ounce.
Gold has been one of the most consistent gainers through the six months of coronavirus-led turmoil in financial markets, benefiting from a flood of capital into the world economy and investors seeking a relatively safe location to park money with interest rates at or near zero.
Typically, any sign of uncertainty in the financial markets boosts the appeal of gold as a safe-haven bet, as investors rush away from riskier asset classes.