Now Reading: Gold nears Rs 74,000/10 gram mark on MCX
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Gold nears Rs 74,000/10 gram mark on MCX
HYDERABAD: Fears of escalation within the West Asia battle despatched international gold costs hurtling previous the $2,400/ounce mark for the primary time to a report excessive of $2,432 late on Friday night. The yellow metallic hit a brand new excessive of Rs 73,958/10gm for June futures on the Multi Commodity Trade of India (MCX).
Costs of the yellow metallic had been buying and selling at report highs of over Rs 73,350 (24K) in native markets reminiscent of Delhi on Friday morning.The Indian Bullion & Jewellers Affiliation web site was quoting costs of Rs 73,174 (24K-999 purity) within the night.
“Geopolitical uncertainty, central banks’ shopping for, and cash managers’ bullish bets are all contributing to the bullish momentum in treasured metals,” mentioned Saumil Gandhi, senior analyst-commodities, HDFC Securities.
Costs of the yellow metallic had been buying and selling at report highs of over Rs 73,350 (24K) in native markets reminiscent of Delhi on Friday morning.The Indian Bullion & Jewellers Affiliation web site was quoting costs of Rs 73,174 (24K-999 purity) within the night.
“Geopolitical uncertainty, central banks’ shopping for, and cash managers’ bullish bets are all contributing to the bullish momentum in treasured metals,” mentioned Saumil Gandhi, senior analyst-commodities, HDFC Securities.
