INSUBCONTINENT EXCLUSIVE:
Spot gold was up 0.6 per cent at $1,853.50 per ounce in international markets.Gold, Silver Price Today: Prices of gold futures for delivery
in June rose as much as 0.82 per cent to hit an intraday high of Rs 48,070 on the Multi Commodity Exchange
In the spot market, 24 carat or fine gold was priced at Rs 47,776 per 10 grams, 22 carat gold was sold at Rs 46,130, 18 carat gold was
priced at Rs 38,210 and 14 carat gold was sold at Rs 31,760, according to India Bullion and Jewellers Association (IBJA)
Precious metals were witnessing buying interest on the back of safe haven demand amid geo-political tensions between Israel and Palestine
and rising COVID cases.In international markets, gold prices rose to their highest level in more than three months, as a dip in US Treasury
yields and worries over surging COVID-19 cases in some Asian countries boosted demand for the safe-haven metal.Spot gold was up 0.6 per cent
at $1,853.50 per ounce by 10:49 am, hitting its highest since February 10
US gold futures jumped 0.9 per cent to $1,854.10."Treasury yields are falling and on the other hand, there seems to be fears about virus
resurgence in Singapore, Taiwan and broader Asian-Pacific markets..
driving up demand for safety," said Margaret Yang, a strategist at DailyFX.Benchmark US 10-year Treasury yields slipped to their lowest in
nearly a week, reducing the opportunity cost of holding non-interest bearing gold.Back home, silver futures for delivery in July was
witnessing buying interest as it moved above Rs 72,000 mark
Silver futures for July delivery advanced as much as 1.61 per cent to hit an intraday high of Rs 72,232
In spot market, silver was retailed at Rs 70,360 per kilogram
In international market, silver was up 0.9 per cent at $27.65 per ounce, after hitting a one-week high earlier in the day
Platinum gained 0.2 per cent to $1,228 and palladium edged 0.4 per cent higher to $2,904.72.
