Gold price today: Yellow metal scampers to recovery; jumps Rs 300 per 10 gram

Gold prices on Friday rose 0.75% to Rs 40,129 per 10 gram in futures trade as speculators were indulged in creating fresh positions amid a firm global trend.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 298, or 0.75 per cent, to Rs 40,129 per 10 gram in a business turnover of 2,347 lots.

The yellow metal for June delivery edged up by Rs 346, or 0.87 per cent, to Rs 40,250 per 10 gram in a business turnover of 423 lots.

Fresh positions built up by participants on positive cues from global markets mainly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.64 per cent to USD 1,488.80 per ounce in New York.

ALongside, Equity benchmark Sensex surged over 500 points in opening session on Monday on hopes of an economic stimulus after Prime Minister Narendra Modi announced a financial task force to take necessary actions to combat the Covid-19 pandemic’s economic blow.

The indices, however, succumbed to profit-booking at higher levels as concerns remained over the rising cases of the novel coronavirus (Covid-19), traders said.

After spiking 573.07 points, the BSE barometer gave up all gains to trade 195.57 points or 0.69 per cent lower at 28,092.66.
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