Gold prices jumped in futures trade on Friday as the trade conflict between Sino-US escalated. Global economic slowdown fear made investors move towards the safe haven asset. The gold prices also surged due to an uptick in domestic demand.
Globally, the continuing trade issues battered the gold rates that experienced the best week in over last 3 years of trade.
US gold futures rose 0.6 per cent to $1,519 an ounce while the dollar index headed towards a weekly decline.
SPDR Gold holdings Trust said that its holdings fell by 0.7 per cent to 839.85 tonnes on Thursday. However, US Gold futures were up by 0.9% at $1,497.90 an ounce.
Around 9:15 am, MCX Gold traded at Rs 37,976 per 10 grams, up by 0.27% or Rs 219.
Moreover, silver rates also jumped to 43950.00, up by Rs 883 per kg today.
Globally, the continuing trade issues battered the gold rates that experienced the best week in over last 3 years of trade.
US gold futures rose 0.6 per cent to $1,519 an ounce while the dollar index headed towards a weekly decline.
SPDR Gold holdings Trust said that its holdings fell by 0.7 per cent to 839.85 tonnes on Thursday. However, US Gold futures were up by 0.9% at $1,497.90 an ounce.
Around 9:15 am, MCX Gold traded at Rs 37,976 per 10 grams, up by 0.27% or Rs 219.
Moreover, silver rates also jumped to 43950.00, up by Rs 883 per kg today.