Gold shines due to rising tension between US and China

May 22 2020 07:34 PM
Gold shines due to rising tension between US and China

New Delhi: Gold prices have seen a rise on Friday due to deepening tension between the US and China over the Coronavirus. On the MCX today, gold futures rose 0.22 percent or Rs 102 to Rs 46,490 per 10 grams in early trade. At the same time, silver futures fell 0.34 per cent or Rs 160 to Rs 47,175 per kg.

Investors preferred safe investment in gold due to increasing tension between the US and China. Apart from this, Gold also got support from the growing Corona case in India. The number of coronavirus infections in India has crossed 1.18 lakh. The rate of increase in corona cases in India is now the highest in Asia. The number of people who died of corona in India has also crossed 3,600. According to HDFC Securities, the spot gold markets are closed due to the lockdown being implemented.

In the global market, spot gold was trading at $ 1,727.39 an ounce on Friday. On Thursday, the price of gold in the foreign market was broken by 1.4 percent. At the same time, US gold futures rose 0.3 percent to $ 1,726.50.

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