Due to the positive global trend, there has been a rise in gold and silver prices in Indian markets today. On Friday, the last trading session, gold had reached the lowest level of a year. However, it is still trading below Rs 11,500 from its alltime high and its price per 10 gram is below 45,000.
On the Multiple Commodity Exchange (MCX) at 11.15 am today, delivery futures gold (Gold Futures) on April 5 is trading 0.18% up at Rs 44,829 per 10 grams, while the futures silver on May 05 delivered 0.8%. It is trading at 66,900 per kg.
Price so high in global markets
Gold was priced at $ 1,728.43 an ounce in international markets. In the US, gold prices have fallen in recent times due to the stimulus package and the rise in US bond yields. At the same time, silver is up 0.9% at $ 26.14 an ounce in global markets today. At the same time, platinum is up 1% at $ 1,217.37, while palladium is down 0.1% at $ 2,369.17.
The condition of the bullion markets of the country
Today, the price of 22 carat gold in the capital Delhi has gone up to Rs 44,170 per 10 grams, while in Chennai it is priced at Rs 42,320. The price of 22 carat gold is Rs 43,880 in Mumbai, Rs 44,170 in Lucknow and Rs 43,880 per 10 grams in Patna.
Gold procurement falls drastically
The holding of SDPR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.3 per cent to 1,052.07 tonnes on Friday. According to a report by the World Gold Council, there has been a steep decline in the purchase of gold by central banks worldwide in 2020. Central banks made a modest purchase of 44.8 tonnes in the fourth quarter of 2020. At the same time, the annual gold purchases of central banks fell by almost 60% to 272.9 tonnes.
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