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HomeIndiaGold Price Reaches 42 Thousand, Futures Trading Up By ₹1800

Gold Price Reaches 42 Thousand, Futures Trading Up By ₹1800

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Gold has improved in the safest means of investment amidst uncertainty between the US and Iran in the global market. After the military tension in the Gulf region, gold price in the futures market of India rose by more than Rs 1,800 per 10 grams on consecutive days, while in the spot market gold’s has reached 42 thousand rupees.

Gold Price

On Monday, Gold Price in the futures and spot markets of the country went to record highs. At the same time, the price of gold in the international market is at the highest level since 2013. On the Multi Commodity Exchange (MCX), the price of golds had closed at Rs 39,277 per 10 grams on Thursday, which went up to Rs 41,096 per 10 grams on Monday. In this way, gold rose by Rs 1,819 per 10 grams on MCX for two consecutive seasons.

How Much Is The Gold Price In The Spot Market

Talking about the spot market, on Thursday, the price of 999 purity gold in the Indian bullion market was Rs 39,215 per 10 grams, which rose to Rs 40,842 per 10 grams on Monday. At the same time, the Gold Price with GST on Monday was Rs 42,067 per 10 grams.

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According to news agency IANS, the most active gold contract on MCX was trading at Rs 4018 per 10 gram, up by Rs 418, or 1.04 percent, from the previous session at 9.45 pm on February expiry contract. The price jumped to Rs 41096.

What Is The Price Of Silver

Silver in March expiry contract on MCX was trading up by Rs 48 to Rs 47,575 per kg as compared to the previous session, while silver rose by Rs 48,660 per kg in early trade.

At the same time, on the international futures market, Comex gold in February contract was trading up by $ 11.35 i.e. 0.73 percent at $ 1,563.75 an ounce. The highest level since September 2013, when gold closed at $ 1,592 an ounce.

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However, the price of silver declined. Comax was trading 0.27 percent lower at $ 18.10 an ounce in March contract of silver.

How The Crisis Increased

The crisis in the Gulf region has deepened after US President Donald Trump warned of a ban on Iraq amid military tensions arising in the Gulf region due to a confrontation between the US and Iran. Therefore, the trend of investors towards safe investment has increased, so the price of expensive metals is seeing a strong rise.

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Ashish Kumar Mishra
Ashish Kumar Mishrahttps://www.spotnews18.com/
Ashish Kumar Mishra is the Founder and CEO at Spot News 18. He created Spot News 18 on 30 June 2019. His intention to make these News Websites was only to provide correct and official news to his readers. Now, he is working on Spot News 18 to expand his website reach to all parts of the world.

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