The price of gold in the Indian futures market has once again broken its own record. With this, the futures price of gold has reached its new high on Monday. On the MCX exchange, gold futures of April 3, 2020 rose by Rs 432 to a fresh high of Rs 43,098 per 10 grams on Monday morning. With this, the futures price of gold on June 5, 2020 has also broken its record today. On Monday morning it rose by Rs 443 to an all-time high of Rs 43,306 per 10 grams.
Along with this, the international price of gold is also seen on Monday. At present, the global spot price of gold is at a seven-year high. On Monday morning it was trending at $ 1,672 an ounce, which is just a few dollars lower than the all-time high. The highest level of gold globally is $ 1,679 per ounce. At the same time, the biggest reason for the increase in gold prices is the cloud of crisis at the moment on global economic growth. The crisis on the global economy is caused by the coronavirus. Along with this, the coronavirus is spreading outside China in South Korea, Italy and Central Asia as well. The number of people infected and killed by this virus has increased here. At the same time, the economic crisis created by the Coronavirus outbreak has made gold as a safe haven for investors. This is why gold prices are rising.
Along with gold, silver is also seeing a sharp rise on Monday. Apart from this, silver futures on March 5, 2020 on the MCX exchange was trending at Rs 48,650 per kg with a rise of 0.72 per cent or Rs 349 on Monday morning. On the other hand, if we talk about the spot price of silver at the global level, it is also seen a huge rise on Monday. According to Bloomberg, it was trading up 0.89 percent or $ 0.16 on Monday morning at $ 18.65 an ounce.