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RJ Market Watch

Gold Rate Today: Gold jumps on safe-haven demand



NEW DELHI: Gold prices jumped in futures trade on Wednesday, supported by positive global trend and weakness in the equity market.

Weak sentiment in the equity market amid trade war jitters increased the appeal of gold as safe-haven metal.

Gold prices rose in global markets as worries over US-China trade war lingered, curbing risk appetite and increasing the appeal of safe-haven metal.

Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell marginally to 756.18 tonnes on Tuesday from 756.42 tonnes on Monday, Reuters reported.

Silver also advanced on a hike in demand by industrial units and coin makers at spot markets.

Around 10:50 am, the MCXNSE 1.61 % Gold traded at Rs 32,748 per 10 grams, up Rs 116, while MCX Silver traded Rs 36,838 a kilo, up Rs 103.

Courtesy: Economic Times

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