Mumbai. Gold shone on Tuesday due to Corona breaking the psychological level of $ 2000 an ounce. At the same time, gold crossed the Rs 54000 per 10 gram level in the domestic market and silver also rose above Rs 68,800 per kg. Sona broke all previous records and has set a new record in the international and Indian market. Due to the weakness in the dollar in the international market, the price of expensive metals is getting continuous support, due to which there was a tremendous rise in gold and silver in the Indian market on Tuesday.
In the domestic futures market, gold rose more than one percent, while silver rose more than four percent.
Gold was trading at Rs 541, or 1.01 per cent, at Rs 54,258 per 10 grams on the Multi Commodity Exchange (MCX) in October’s expiry contract for gold at 8.59 pm from the previous session, compared to Rs 54,297 during the previous trade. Bounced up to 10 grams.
MCX was trading at Rs 68513 per kg, up by Rs 2765, or 4.21 per cent, from the previous session in the September expiry contract for silver, while silver rose by Rs 68833 per kg during the previous trade.
The October futures contract for gold on the international futures market Comex was trading at $ 2000.20 an ounce, up $ 25.50, or 1.29 per cent, from the previous session, while the previous price rose to $ 2,002 an ounce.
The September contract for silver on Comex was trading at $ 25.54 an ounce, up $ 1.126, or 4.61 percent, from the previous session, while silver rose to $ 25.637 an ounce on the COMEX.
The dollar index, indicative of the strength of the dollar against the six currencies of the world, was at 93.45 with a weakness of 0.5 per cent from the previous session. The dollar index climbed to 100.43 on May 18, but since then the dollar has continued to weaken.
In a report published earlier, it was expected that gold could break the $ 2000 level in the international market this week and the price of gold in the Indian market may cross Rs 54000 per 10 grams.
Anuj Gupta, deputy vice-president of Angel Broking, said that there was every possibility that gold would break the $ 2000 per ounce level on Comex, while the psychological level of Rs 54000 per 10 grams would break in India.
Gupta says that there has been a steady trend in gold and silver in the Corona era, due to the increasing trend of investors towards safe means of investment.
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