Gold prices in India remain continuously volatile. Its rates fell for the third consecutive day. On April 3, Gold Contract on MCX was trading at Rs 43329.00, losing Rs 26 at 12.14 pm. The contract of silver was seen to fall by Rs 320 to trade at Rs 45444.00 per kg.
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Gold prices in foreign markets were rising today after the World Health Organization (WHO) declared coronavirus an epidemic. The spot gold rose 0.6% to $ 1,645.00 an ounce. Currently, silver rose 0.6% to $ 16.85 an ounce, speaking of platinum, it slipped 0.2% to $ 858.63. The US index Dow Jones suffered a fall of around 1,500 points after the WHO declared Corona an epidemic. To control the spread of the virus, US President Donald Trump has banned all travel from Europe to the US for 30 days.
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Gold was supported after the Bank of England cut interest rates on Wednesday. The Bank of England has made this cut after the emergency cut by the US Federal Reserve last week. It is expected that other central banks such as the Bank of Japan and the European Central Bank may also announce new measures to reduce the economic impact of coronavirus. The London Bullion Market Association (LBMA) said on Wednesday that gold trading volume reached a high of $ 100 billion on Monday.
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