Spot gold was up 0.6 per cent at $1,853.50 per ounce in worldwide markets.
Gold, Silver Price Today: Prices of gold futures for supply in June rose as a lot as 0.82 per cent to hit an intraday excessive of Rs 48,070 on the Multi Commodity Exchange. In the spot market, 24 carat or high-quality gold was priced at Rs 47,776 per 10 grams, 22 carat gold was bought at Rs 46,130, 18 carat gold was priced at Rs 38,210 and 14 carat gold was bought at Rs 31,760, in line with India Bullion and Jewellers Association (IBJA). Precious metals had been witnessing shopping for curiosity on the again of secure haven demand amid geo-political tensions between Israel and Palestine and rising COVID instances.
In worldwide markets, gold costs rose to their highest degree in additional than three months, as a dip in US Treasury yields and worries over surging COVID-19 instances in some Asian international locations boosted demand for the safe-haven metallic.
Spot gold was up 0.6 per cent at $1,853.50 per ounce by 10:49 am, hitting its highest since February 10. US gold futures jumped 0.9 per cent to $1,854.10.
“Treasury yields are falling and on the other hand, there seems to be fears about virus resurgence in Singapore, Taiwan and broader Asian-Pacific markets… driving up demand for safety,” mentioned Margaret Yang, a strategist at DailyFX.
Benchmark US 10-year Treasury yields slipped to their lowest in practically per week, decreasing the chance value of holding non-interest bearing gold.
Back dwelling, silver futures for supply in July was witnessing shopping for curiosity because it moved above Rs 72,000 mark. Silver futures for July supply superior as a lot as 1.61 per cent to hit an intraday excessive of Rs 72,232. In spot market, silver was retailed at Rs 70,360 per kilogram. In worldwide market, silver was up 0.9 per cent at $27.65 per ounce, after hitting a one-week excessive earlier within the day. Platinum gained 0.2 per cent to $1,228 and palladium edged 0.4 per cent increased to $2,904.72.
