Gold futures prices have registered a steep decline of Rs 5,000 per 10 grams in the last five sessions. With this, it has fallen from the level of Rs 44,500 per 10 gram to Rs 39,225 per 10 gram in these five sessions. In addition, gold is generally strong as a safe haven during the fall in equity markets, but due to the cash crisis in all markets due to the coronavirus outbreak, gold has seen a huge decline.
On the international level, according to Bloomberg, on Tuesday morning, the spot price of gold was down by 0.79 percent or $ 11.95 to trade at $ 1502.15 an ounce. The spot price of silver was down by 0.02 per cent on Tuesday morning at $ 12.91 an ounce.
Talking about the futures market, on Tuesday morning on April 3, 2020 gold futures on MCX exchange showed a fall of Rs 293 to Rs 39,225 per 10 grams. Apart from this, the futures price of gold on June 5, 2020 fell by Rs 363 to Rs 39,526 per 10 grams on MCX on Tuesday morning.
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