Gold continues its record-breaking performance in Indian markets even today. October gold futures on MCX were up 0.2 percent at Rs 53,865 per 10 grams. Talking about silver, silver futures on MCX also rose by 0.18 percent to Rs 65,865 per kg.
In the previous session, gold prices had risen by 0.5 percent ie Rs 267 per 10 grams, while silver had risen by 1.2 percent ie Rs 800 per kg. In the previous session, gold had reached a high of Rs 53,845 per 10 grams.
In global markets, spot gold held steady at $ 1,976.36 an ounce. Concerns over the growing Coronavirus cases impacting the global economy have put pressure on the US dollar. The World Health Organization has issued a warning about the coronavirus, stating that the coronavirus may remain for a long time. The WHO said this after meeting with the Emergency Committee on a six-month evaluation of the Kovid-19.
Geojit Financial Services said in a note that, "The dollar recovery showed a slight decrease in the price of precious metals. However, concerns about economic growth continue due to rising virus infection. '
Among other precious metals, platinum rose 0.2 percent to $ 918.50. Gold and silver prices in global markets are up 30 percent this year, supported by central banks' stimulus measures and lower interest rates. Gold ETFs have seen a strong jump this year as the yellow metal is seen as a hedge against inflation and the possibility of currency worsening.