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Gold prices rise due to safe investments

Retail Jeweller India

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Ahmedabad: Gold prices once again went up on Monday, to settle at Rs 50,050 per 10g, due to increasing safe haven investments in gold. The prices rose by Rs 450 against Friday’s closing price of Rs.49,600 per 10g.

Analysts said that gold prices went up in the international market as several stock markets in US and other countries remained volatile over fears of the fallout of the Covid-19 pandemic. “As stock markets crashed globally, safe haven investments in gold went up and as a result, the price of gold in the international market increased.

This led to an increase in gold prices in the Indian market,” said Haresh Acharya, director, India Bullion and Jewellers’Association (IBJA). TNN

 

Courtesy: TOI

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