June 16, 2021

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Gold Futures Good points Almost 1%, Silver Futures Rises Over 1.5% On Robust World Cues

Gold, Silver Prices Rise On Strong Safe Haven Demand

Spot gold was up 0.6 per cent at $1,853.50 per ounce in worldwide markets.

Gold, Silver Worth As we speak: Costs of gold futures for supply in June rose as a lot as 0.82 per cent to hit an intraday excessive of Rs 48,070 on the Multi Commodity Alternate. Within the spot market, 24 carat or superb gold was priced at Rs 47,776 per 10 grams, 22 carat gold was offered at Rs 46,130, 18 carat gold was priced at Rs 38,210 and 14 carat gold was offered at Rs 31,760, based on India Bullion and Jewellers Affiliation (IBJA). Valuable metals have been witnessing shopping for curiosity on the again of protected haven demand amid geo-political tensions between Israel and Palestine and rising COVID circumstances.

In worldwide markets, gold costs rose to their highest stage in additional than three months, as a dip in US Treasury yields and worries over surging COVID-19 circumstances in some Asian nations boosted demand for the safe-haven steel.

Spot gold was up 0.6 per cent at $1,853.50 per ounce by 10:49 am, hitting its highest since February 10. US gold futures jumped 0.9 per cent to $1,854.10.

“Treasury yields are falling and then again, there appears to be fears about virus resurgence in Singapore, Taiwan and broader Asian-Pacific markets… driving up demand for security,” mentioned Margaret Yang, a strategist at DailyFX.

Benchmark US 10-year Treasury yields slipped to their lowest in almost per week, lowering the chance price of holding non-interest bearing gold.

Again residence, silver futures for supply in July was witnessing shopping for curiosity because it moved above Rs 72,000 mark. Silver futures for July supply superior as a lot as 1.61 per cent to hit an intraday excessive of Rs 72,232. In spot market, silver was retailed at Rs 70,360 per kilogram. In worldwide market, silver was up 0.9 per cent at $27.65 per ounce, after hitting a one-week excessive earlier within the day. Platinum gained 0.2 per cent to $1,228 and palladium edged 0.four per cent increased to $2,904.72.

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