Due to the increase in new cases of corona infection worldwide, investors are turning to gold considered a safe haven. This is the reason why gold prices have seen a spurt on Monday. In the domestic futures market, both gold and silver prices have seen an increase on Monday. On August 5, 2020 gold futures on the MCX exchange were trending at Rs 48,444 per 10 grams, up 0.29 per cent or Rs 139 on Monday morning. Apart from this, the gold futures price of 5 October 2020 was trading at Rs 48,577 per 10 grams on MCX on Monday morning by 0.26 per cent or Rs 125.
There has also been a surge in the price of silver in the domestic futures market. Silver futures on September 4, 2020 on MCX were trending at Rs 49,497 per kg, rising 0.53 per cent or Rs 260 on Monday morning. At the same time, the silver futures price of July 3, 2020, was up by 0.47 per cent or Rs 229 on Monday morning to trend at Rs 48,594 per kg.
Global prices of gold have also seen a surgeon Monday due to a spurt in cases of coronavirus infection. According to Bloomberg, the global futures price of gold was trading 0.44 per cent, or $ 7.80, at $ 1,788.10 an ounce on Comex on Monday morning. Also, the global spot price of gold was up 0.19 percent or $ 3.29 on Monday morning to trade at $ 1,774.58 an ounce.
Meanwhile, the global futures price of silver was trading 0.40 per cent, or $ 0.09, at $ 18.26 an ounce on Monday morning. Also, the global spot price of silver was currently trading at $ 17.91 an ounce, rising 0.61 per cent or $ 0.11.