Gold prices reached a maximum lifetime of Rs 41,730 per 10 gm, zoom Rs 720

NEW DELHI: Gold prices in the national capital reached an all-time high on Monday and increased Rs 720 to Rs 41,730 by 10 grams after a surge in the demand for safe metal shelter amid weak stocks and upward global trends, according to to HDFC Securities.

Silver also witnessed an increase in purchases, as it increased from Rs 1,105 to Rs 49,430 per kg from Rs 48,325 per kg in the previous trade.

The gold in the previous trade closed at Rs 41,010 per 10 grams.

The demand for safe haven continued in the precious metal with the word of war between the United States and Iran. Along with a weaker rupee, rising international gold prices supported domestic gold prices to trade at a lifetime level, said Devarsh Vakil, chief (PCG-advisory), HDFC Securities, said.

In the global market, gold was traded with earnings at $ 1,575 per ounce and, in the same way, silver also traded higher at $ 18.34 per ounce.

International gold prices at COMEX rose to 2.3 percent to $ 1,588.13 an ounce, the highest level since April 2013, and traded at $ 1,575 an ounce. Together with the other Asian currencies, the rupee was traded with a loss of 25 increases amid the higher crude oil prices.

In the morning trade, the rupee depreciated 31 countries at 72.11, affected by the increase in crude oil prices, amid growing concerns about tensions between the United States and Iran.

Sensex crashed almost 788 points on Monday when intense tensions in the Middle East kept investors to the limit.

The domestic market witnessed an intense liquidation in line with global actions after the president of the United States, Donald Trump, warned Iran of great reprisals if Tehran carries out any attack against the United States to avenge the assassination of the principal military commander Qassem Soleimani.

comments