Gold Prices Today, March 20: Expected to touch Rs 60000 this week, check rates in Delhi, Mumbai, Chennai & other cities
Multi Commodity Exchange (MCX) Gold intraday trade prices touched a high at Rs 59,520 per 10 grams on March 20, despite a bearish global market.
New Delhi: Gold has kept its shine despite a bit of a fall in the prices as compared to March 18. Multi Commodity Exchange (MCX) Gold intraday trade prices touched a high at Rs 59,520 per 10 grams on March 20, despite a bearish global market. Gold futures, maturing on April 5, rose by Rs 126 and traded at Rs 59,509 per 10 grams.
24-Carat gold prices crossed the Rs 60,000 mark on March 18 and are expected to go that way in the upcoming week. The 22-carat gold in Delhi is priced at Rs 54,950 per 10 grams.
Gold prices in different cities in India:
|City||Gold Prices Today (10 gms in Rs)||Gold Prices Yesterday (10 gms in Rs)|
The international gold prices are affected by the banks crashing in the USA. However, Anuj Gupta, Vice President of Commodity and Currency Research at IIFL Securities, noted that in the international market, gold prices increased by 6.49 percent and closed at USD 1988. He added that there were doubts regarding Federal Reserve having enough room to increase interest rates following growing pressure and the banks crashing. He reckons that safe havens provided a boost to gold.
The yellow metal is expected to go up to Rs 60,000 to Rs 60,500 this week. The investors are suggested to keep an eye on the US Federal meeting this week and the rupee prices in comparison to the dollar. Currently, USD 1 is trading at Rs 82.63.
On the other hand, silver prices dipped a bit but have shown a positive trend in the last 10 days. Silver is currently trading at Rs 71,800 per kg.