Gold costs dip as merchants book profits

With companies shut in several cities in India amid rising risk of Covid-19, the economic field remains precarious.

ETMarkets.com|

Closing Updated: Apr 16, 2020, 07.00 PM IST

Reuters

Space gold markets remained shut due to lockdown to remain unfold of COVID-19, in line with HDFC Securities.

Bullion counters slipped on Thursday as merchants resorted to book profits at high phases at the same time as coronavirus conditions in India persisted to upward push and an extension in lockdown raised recession fears.

With companies shut in several cities in India amid rising risk of coronavirus, the economic field remains precarious. The quantity of reported Covid conditions agree with been at 12,380, as per the governmentrecordsdata.

Gold futures agree with been down 0.23 per cent or Rs 108 to Rs 46,602 per 10 grams. Silver futures fell 0.87 per cent or Rs 381 to Rs 43,650 per kg.

Space gold markets remained shut due to lockdown to remain unfold of COVID-19, in line with HDFC Securities.

Globally, gold costs inched increased on Thursday as fears of a deep global recession due to radical coronavirus outbreak agree with been heightened by bleak U.S. economic recordsdata, while a stronger dollar restricted the metal’s gains.

Space gold gained 0.1 per cent to $1,717.20 per ounce by 0036 GMT. U.S. gold futures agree with been up 0.3 per cent at $1,745.70.

Holdings of the area’s largest gold-backed trade-traded fund, SPDR Gold Belief , rose 0.4 per cent to 1,021.69 tonnes on Wednesday.

Palladium gained 0.3 per cent to $2,185.93 an ounce, while silver slipped 0.6 per cent to $15.38 and platinum fell 1.1 per cent to $770.80.

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