Gold futures on MCX rise over concerns of ‘Delta’ variant
The September contract of silver on the MCX was trading at Rs 67,228 per kg, lower by Rs 18 from its previous close.
The September contract of silver on the MCX was trading at Rs 67,228 per kg, lower by Rs 18 from its previous close.
The April contract of gold futures on the MCX was at Rs 44,458 per 10 gram.
On Sunday, Trump signed the $2.3 trillion package after earlier suggesting that he would block the bill.
Silver futures also surged during the day.
The physical demand for gold has remained low because of the higher prices, investors have poured money into avenues such as exchange-traded funds to benefit from the rally.
Some experts believe that the rise in gold prices will continue due to investors interest in precious metals in view of economic uncertainties.
Gold prices on Monday also drew support from the weakening rupee against the US dollar, as India is one of the biggest importers of Gold.
However, the yellow metal was trading higher by 0.05 per cent to USD 1,270.70 an ounce in Singapore.
Gold prices tumbled Rs 394 to Rs 31,249 per 10 grams in futures trade Tuesday as participants indulged in off-loading their exposure in line with a weak trend overseas amid profit-booking at prevailing levels.
