Gold soars to record high of Rs 56,850 per 10 grams. Is it an opportunity missed?
Gold, silver prices today: MCX gold futures for February 3 delivery rose by as much as Rs 304 or 0.5 per cent to a record high of Rs 56,850 per 10 grams. MCX silver futures (March 3) rose as as high as Rs 69,144 per kilogram.
Domestic gold futures rose by half a per cent to a record high on Friday tracking global benchmarks. Weakness in the US dollar — making the yellow metal more attractive for those holding other currencies — and safe-haven demand, amid weak US macroeconomic data and hawkish comments from Fed officials that fuelled concerns about a recession in the world's largest economy.
On MCX, gold futures for February 3 delivery gained by as much as Rs 304 or 0.5 per cent to Rs 56,850 per 10 grams — a record high.
The international spot gold rate was up 1.1 per cent at $1,924.1 per ounce at the last count, within $5 of a nine-month high of $1,929 touched on Monday.
US gold futures rose 0.9 per cent to finish at $1,923.9 per ounce. Silver futures were up 0.6 per cent at $24 an ounce.
The rupee was last seen quoting at 81.17 against the US dollar, higher by 19 paise or 0.2 per cent compared with its previous close.
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