Connect with us

Gold price hits record highs, jumps 2,500 by 10 grams in 5 days

Gold prices hit new highs this week in India, closing with strong gains. On MCX, October gold futures rose 1.2% to 53425 per 10 grams on Friday. Gold hit a new high of 53,700. And during the week it increased 2500 per 10 grams or approximately 4.6%. Silver futures also ended the week on a good note on Friday, up 3.6% or 2300 to 64970 per kg. Money has been very volatile since it reached the multi-year period 67,560 last month.

In India, gold prices have jumped more than 35% so far this year, following a global rally.

Concerns over the global economic fallout from growing COVID-19 cases have pushed investors toward the safe haven metal, says Jigar Trivedi, research analyst – Commodities Fundamental, Anand Rathi Shares & Stock Brokers.

Data showed that the US economy suffered its biggest hit since the Great Depression in the second quarter due to the pandemic, as investors also braced for an uncertain political situation in the country.

Fueled by the weak dollar and low interest rates, in global markets, gold also ended a good week. Gold and silver are up 30% this year, with gold and silver exchange-traded funds taking holdings to a record high.

Earlier this week, the Federal Reserve this week reiterated its vow to use all its tools to support the US economy. Spot gold hit a new high of $ 1,983.36 an ounce on Friday.

With more stimulus on the horizon, analysts remain bullish on gold. Goldman Sachs predicts a rally to $ 2,300 while Bank of America Corp on Friday prices could climb to $ 3,000. However, JPMorgan Chase & Co. sees the rally run out of steam later this year.

Back in India, the fifth tranche of gold bonds for this fiscal year opens tomorrow and the issue price has been set at 5334 per gram. Sovereign Gold Bonds are issued by RBI on behalf of the Indian government. Basically, gold bonds are government securities denominated in grams of gold. They are substitutes for holding physical gold.

(With contributions from the agency)

To subscribe to newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]

Sports11 seconds ago

Players in the state of Colorado write a letter while the team pauses activities and expands the investigation into allegations

Watch now: Big Ten Football Schedule 2020: 10 game conference slates begin on September 3 (1:46) Updating: Members of the...

Fashion41 seconds ago

1993 ACC Champions Mens Basketball Georgia Tech Yellow Jackets

March 12-14 Charlotte, North Carolina Georgia Tech 69, Duke 66 Georgia Tech 69, Clemson 61 Georgia Tech 77, North Carolina...

Tech1 min ago

Olivia Kastor Joins 15th Class of Stamp Scholar | Stateville Local News

Olivia caster Stateville students are part of the largest class to date, with 267 top students from all over the...

Politics3 mins ago

Indonesia: Joko Orders Imposing Sanctions To Slow Covid-19 Infections; total now greater than 123,000

JAKARTA, Aug.8 (Xinhua): Indonesian President Joko Widodo has ordered heads of regional administrations to put in place policies to prevent...

International4 mins ago

Saying outlook for cinemas as coronavirus reappears in US

A view outside the Cinemas 1, 2 and 3 theater during the coronavirus pandemic on May 18, 2020 in New...

Entertainment4 mins ago

Gurmeet Chaudhary revealed! Sushant Singh Rajput opens Bollywood doors to TV stars – The Indian Print

After the death of Sushant Singh Rajput, many questions were raised about the film industry. Bollywood has been accused of...

Business4 mins ago

Silicon Valley’s response to NASDAQ has been in testing since Monday

The Long Term Exchange, an attempt to create an alternative to the NYSE, NASDAQ and other exchanges, said Friday it...

Politics6 mins ago

Thousands of NHS workers protest in the streets after missing the public sector wage increase despite coronavirus heroism

Thousands of NHS workers have taken to the streets to demand better wages for staff left ‘on their knees’ by...

Politics7 mins ago

Trump announces executive order plan to extend economic relief from COVID-19

President Donald Trump has announced his plans for an Executive Order to expand COVID-19 economic … [+] relief. Getty Images...

Politics8 mins ago

PM Modi will launch the Rs 1 Lakh Crore funding mechanism tomorrow under the Agricultural Infrastructure Fund

Prime Minister Narendra Modi will launch on Sunday (August 9) the Rs 1 lakh crore financing facility under the Agricultural...