Gold rate today gains amid flight to safety

Gold rate today gains amid flight to safety

Gold and silver leaped on Monday as flight from equities increased the demand of yellow metals on bourses.
With businesses shut in several cities in India amid rising threat of coronavirus, investors are shunning equity markets. This has led to diversion of funds to precious metals, especially when they have come down from historic high levels.

Gold futures were up 0.75 per cent, or Rs 304, to Rs 40,662 per 10 grams. Silver futures were up 1.28 per cent, or Rs 457, to Rs 36,300 per kg.

Gold prices on Friday jumped Rs 1,395 to Rs 41,705 per 10 gram in the national capital following a rally in the international prices of the precious metal, according to HDFC Securities. Silver prices also advanced Rs 2,889 to Rs 38,100 per kg against the previous close of Rs 35,211 per kg.