RJ Market Watch
Gold prices surge today, silver follows suit
![](https://retailjewellerindia.com/wp-content/uploads/2020/04/gold_1548137919500_1548423974659_1586147374477.jpg)
Back in India, gold prices had surged 1.1% on Friday to ₹43,720 per 10 gram in futures market. Commodity derivatives markets remain closed today in India due to a holiday.
Analysts say that though gold has seen an uptick in investment demand, absence of strong physical buying may cap the upside. In many parts of the world, including India, spot gold markets remain shut due to lockdowns.
Apart from worries about global economy, monetary and fiscal stimulus measures taken by various central banks may also lift the sentiments of gold like safe havens, says Hareesh V, head of commodity research at Geojit Financial Services. But the strong dollar and moderate physical demand are likely to limit major rallies, he added.
The holdings of SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund (ETF), rose 0.72% to 978.99 tonnes on Friday – the highest holding in over three years.
Meanwhile, hedge funds and money managers reduced their bullish positions on COMEX gold and increased them in silver contracts in the week to March 31, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.
Courtesy: LIVEMINT
- Personal Opinion2 weeks ago
Buy-back on gemstones to be on par with gold; A fear of return on the investment, more among high-end clients: Ankur Anand, Harsahaimal Shiamalal Jewellers
- Maverick Greenhorn1 month ago
Segmenting retail approach to boost business performance
- Exclusive4 weeks ago
Prasad Jewellers’ Gold Bar Challenge fulfils multi-channel engagement goals, attracts young customers
- Daily News2 weeks ago
TBZ – The Original launches its first store in Jaipur