Gold prices today: Yellow metal rises after falling Rs 1800 per 10 gram in just a day
Gold prices in India jump on the Multi Commodity Exchange (MCX) on Monday after strong gains in the previous session. The yellow metal prices were up after US Federal Reserve slashed interest rates by a percentage point to a range between zero and 0.25 per cent.
On MCX, April gold futures jumped 1.5% or ₹600 to ₹40,460 per 10 gram, after plummeting about ₹1,800 in the previous session.
Weak Indian rupee against the US dollar also supported gains the yellow metal.
Gold prices in India include 12.5% import duty and 3% GST. Silver also gained today with futures on MCX rising 1% to ₹40,932 per kg.
At 9:20 pm, gold futures for April delivery gained 1.78 per cent to Rs 41,068 per 10 grams as against the previous close of Rs 40,348 and opening price of Rs 40,982 on the MCX.
US gold futures rose 2.02 per cent to $1,547.40 per ounce.
The rupee opened 19 paise lower on Monday and started at 74.10 per dollar against the previous close of 73.91.
Meanwhile, silver futures traded 0.90 per cent higher at Rs 40,850 per kg. The prices opened at Rs 40,962 as compared to the previous close of Rs 40,487 per kg.