Gold and silver futures prices rose today in Indian markets. The futures price for gold for the month of delivery on MCX rose 0.2 percent to Rs 49,380 per 10 grams. It continues to grow for four consecutive days. It has become costlier by Rs 1,500 per 10 grams in four days, but still Rs 7,000 thousand below the high of Rs 56,200 in August. Today silver futures on MCX are up 0.2 percent at 63,767. In the previous session, gold had risen by Rs 350 per 10 grams while silver had increased by Rs 300 per kg.
These factors affected the price
Kotak Securities said in a note that the continued rise in coronavirus cases globally is affecting the price of gold. The epidemic has forced authorities to impose strict restrictions affecting economic activities. At the same time, gold also gained momentum due to Brexit uncertainty.
Price in international markets
Today, the price of gold in international markets was slightly higher. Investors are optimistic about additional US stimulus. Spot gold was up 0.1 percent at $ 1,841.90 an ounce. Among other precious metals, silver held steady at $ 24.07 an ounce, while platinum rose 0.1 percent to $ 1,030.50 and palladium rose 0.5 percent to $ 2,313.00.
ETF continues to flow
The flow of ETFs reflects weak investor interest in gold. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund or gold ETF, fell 0.1 percent to 1,189.82 tonnes on Thursday, compared to Wednesday's 1,191.28 tonnes.