Today, the stock market continues to decline, but the prices of gold are constantly getting strengthened. Gold, which has gained Rs 89 in the morning, is continuously trading in the green mark.
On the one hand, the stock market has turned red, on the other hand gold is seeing a boom. Gold opened at Rs 50560 per 10 grams, rising by Rs 89 this morning, which had closed at Rs 50,471 per 10 grams last evening. In early trade, gold touched a high of Rs 50,598 per 10 grams and a low of Rs 50,483 per 10 grams. However, gold is showing an edge today.
Gold fell 0.44 per cent to Rs 51,490 per 10 grams in the futures market on Monday due to reduced demand. On the Multi Commodity Exchange, gold fell by Rs 225, or 0.44 per cent, to Rs 51,490 per 10 grams for October delivery. It traded for 8,443 lots. At the same time, for delivery in the month of December, gold was softened by Rs. 243 i.e. 0.47 percent at Rs. 51,617 per 10 grams. Meanwhile, gold was trading 0.37 percent down at $ 1,954.80 an ounce in New York.