Gold and Silver Updates


NEW DELHI: Bullion counters have been buying and selling on a blended observe in Monday’s session as quick rising coronavirus affected person rely, particularly in hotspots like Mumbai, elevated worries however reopening of economies saved the temper upbeat.

Companies and residents in much less affected areas in India are having fun with comparatively extra freedom in motion. In the meantime, the overall variety of Covid-19 instances rose sharply to 62,939 with 2,109 deaths.

Gold futures have been down 0.06 per cent or Rs 27 at Rs 45,785 per 10 grams. Silver futures gained 0.50 per cent or Rs 218 to Rs 43,511 per kg.

With retailers beginning to open their retailers in inexperienced zones, the gems and jewelry trade is slowly inching again in direction of normalcy, however is witnessing simply 20-25 per cent gross sales.

Globally, gold held above the important thing $1,700 per ounce degree on Monday as a brand new wave of Covid-19 infections in some international locations saved the safe-haven metallic underpinned, regardless of firmer equities and a stronger greenback.

Spot gold climbed 0.2 per cent to $1,704.26 per ounce by 0100 GMT. U.S. gold futures eased 0.4 per cent to $1,707.70.

Bodily gold demand improved in prime hub China final week as patrons took benefit of hefty reductions, whereas exercise remained muted in different hubs as a result of lockdown and holidays.

Speculators decreased their bullish positions in COMEX gold contracts within the week to Might 5, the U.S. Commodity Futures Trading Commission (CFTC) mentioned on Friday.

Palladium gained 0.7 per cent to $1,895.21 an oz, platinum rose 0.7 per cent to $770.66, silver climbed 0.4 per cent to $15.51.


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