(Namita Pradhan, Intern journalist) India; The future of Domestic gold is stuck at Rs 415 range on Thursday, despising the range globally climbing to 1 percent to trade firm above the $1,900 per ounce mark. The delivery of Multi Commodity Exchange (MCX) gold futures was on due on October 5- which moved to Rs 51,495 and Rs 52,365 in the morning deals. After a day of closing at Rs 52,254 at 9.52 am. The gold future contract of MCX quoted at Rs 52,100 down Rs 154- 0.29% from the last close.
In the international market, the price increased to 1% on softer dollar, with a low-interest-rate environment and the pandemic situation has brought fallout.
The spot gold was traded at 1% higher at $1,936.99 per ounce.
It was seen as gold is the consistent gainer in the last six months of Covid-19 which has disturbed the financial market, benefiting from the capital of world economy and investors looking it as a safe place to get money with interest rates or near to zero.
Any sings of Uncertainty in the financial market rose the appeal of gold as safe, as the investors run away from the assets with risk.
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