Today, the futures price of gold rose in the domestic market and reached the highest level in almost a month. Gold futures on MCX rose 0.38 percent to Rs 48258 per 10 grams. Talking about silver, it was up 0.3 percent at Rs 67442 per kg. In the previous session, gold had gained 0.12 percent and silver had fallen by Rs 1000. The yellow metal is down by about Rs 8,000 from last year's high (Rs 56,200 per 10 grams).
So much is the price in the global market
In global markets, gold prices today rose sharply in global COVID cases, boosting safe-haven demand for precious metals. Spot gold rose 0.3 percent to $1,818.25 an ounce. Among other precious metals, silver was down 0.1 percent at $25.18 an ounce and platinum was up 0.3 percent at $1,077.98. Gold is seen as a safe investment in times of political and financial uncertainty.
1328 crore investment in Gold ETF in June quarter
Investors have invested Rs 1,328 crore in Gold Exchange Traded Funds (ETFs) for the quarter ended June 2021. Experts believe that this inflow of investment will continue in the remaining months of the current financial year. In the June quarter this year, investment inflows have been marginally lower amid expectations of a recovery in the economy. This information was obtained from the data of the Association of Mutual Funds in India (Amfi). In the same quarter last year, the investment figure in gold ETFs stood at Rs 2,040 crore. The assets under management (AUM) of gold ETFs rose to Rs 16,225 crore at the end of June 2021 despite reduced investment inflows. The AUM stood at Rs 10,857 crore at the end of June 2020.