Sun. Jan 29th, 2023

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Gold market remained closed

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On Monday, prices of gold and silver prices slumped because most parts of India returned to near normality. This raised hopes to recover economies but increased risk appetite of investors.

Gold futures were down 0.76% or Rs 347 at Rs 45,460 per 10 grams. Silver futures slipped 0.24% or Rs 101 to Rs 41,143 per kg.

Businesses and citizens in less affected areas will have more freedom in movement. Offices and markets will also function normally. Meanwhile, the total number of coronavirus cases rose sharply to 46,433 with 1,568 deaths.

Spot gold markets remained shut due to the lockdown to prevent the spread of Covid-19, according to HDFC Securities.

Globally, gold prices slipped as risk sentiment was lifted by easing coronavirus restrictions while brewing tensions between the United States and China over the outbreak kept the safe-haven metal near the key $1,700 per ounce level.

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