Gold and silver prices also increased in Indian markets today amid the boom in global markets. Gold futures on MCX rose to a new high of Rs 54,797 per ten grams after an increase of 0.45 percent. Silver futures rose 0.09 percent to 69,861 per kg. During the last session, gold futures on MCX had reached Rs 54,612 at Rs 900, ie 1.7 percent higher level during the business. Silver had increased by Rs 4200 i.e. 6.4 percent.
Talking about the global markets, there was a new rise in the price of gold above the required level of two thousand dollars. Weak dollar, hope of more stimulus package and rising corona transition cases gave rise to the demand for gold. Spot gold rose 0.2 percent to $ 2,022.42 an ounce after climbing above $ 2,030 in the opening session. US gold futures closed up 0.9 percent at $ 2,039. Among other precious metals, silver fell 0.5 percent to $ 24.88 an ounce, while platinum fell 0.9 percent to $ 928.95.
This year, the price of gold in global markets has increased by 33 percent. The unprecedented stimulus of central banks has led to a reduction in interest rates. Gold has benefited from widespread stimulus measures from central banks, as it is seen as a hedge against inflation and currency weakness.
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