Amid the ongoing festive season, India’s Gold and silver prices picks momentum in Wednesday's session ie, on October 21, 2020 led by strong global rates. On the Multi Commodity Exchange (MCX), gold futures for December delivery recorded with gains of 0.46 percent or Rs. 232 at Rs. 51,142 per 10 gm. Likewise, Silver prices also climbed higher by 0.63 percent or Rs. 396 to Rs. 63520 per kg. In the global markets, gold prices stepped higher on softer dollar and increased optimism of a new US stimulus before the US Presidential elections in November. Spot gold climbed up 0.3% to USD 1,912.11 per ounce during the day, while US gold futures remained unchanged at USD 1,916.40. The dollar index was down by a tad 0.1 percent against competitive currencies.

The White House and Democrats are set to decide on the new covid-19 relief after the US President Donald Trump expressed his willingness to approve a larger stimulus even when his own Republican Party is against it.

Coming to India, according to analyst point of view, return of positive momentum in gold is mainly due to new positions being created in the precious yellow metal by participants on healthy spot demand. Fresh positions built up by participants led to the rise in gold prices.

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High Court of Kerala gave this order regarding IAS M Sivasankar