Gold nears Rs 74,000/10 gram mark on MCX – Occasions of India

HYDERABAD: Fears of escalation within the West Asia battle despatched world gold costs hurtling previous the $2,400/ounce mark for the primary time to a document excessive of $2,432 late on Friday night. The yellow metallic hit a brand new excessive of Rs 73,958/10gm for June futures on the Multi Commodity Change of India (mcx,
Costs of the yellow metallic had been buying and selling at document highs of over Rs 73,350 (24K) in native markets akin to Delhi on Friday morning.The Indian Bullion & Jewelers Affiliation web site was quoting costs of Rs 73,174 (24K-999 purity) within the night.
,Geopolitical uncertaintycentral banks’ shopping for, and cash managers’ bullish bets are all contributing to the bullish momentum in treasured metals,” stated Saumil Gandhi, senior analyst-commodities, HDFC Securities.