Due to the coronavirus outbreak, it has shown a dense fall in the price of gold in India which is traded over a percent on the Multi Commodity Exchange (MCX) on Wednesday. Gold futures for April fell 1.14 percent to Rs 39,785 per 10 grams as against the previous close of Rs 40,244 and opening price of Rs 40,127 on the MCX.
Spot gold rose 0.7% to $1,538.63 per ounce while silver rose 1.7% to $12.81 after eight straight sessions of falls and platinum gained 0.8% to $666.38.
Gold Price in India includes 12.5% import duty and 3% GST. The rupee was trading higher at 74.02 per US dollar as compared to the previous close of 74.24.
In global markets, gold prices rose on Wednesday after the US Federal Reserve’s measures to boost liquidity in the market eased concerns over disruptions to the global economy and a potential cash crunch due to the coronavirus outbreak.
Meanwhile, silver futures traded 1.55 percent higher at Rs 34,904 per kg. The prices opened at Rs 35,700 as compared to the previous close of Rs 35,453 per kilogram.
