Mumbai, July 27: Gold rate started the week by touching a fresh high on Monday. On MCX, August gold futures rose 1.5 percent or Rs 800 to a record high of Rs 51,833 per 10 gram, tracking a global rally. The rally was also witnessed in the silver prices. Silver futures on MCX gained 5.5 percent or Rs 3,400 to Rs 64,617 per kg.
According to Good Returns website, the price of 22-carat gold rose to Rs 49,970 per 10 gram. While 24-carat gold in the national capital was at Rs 50,920. In Mumbai, the rate was Rs 49,920 for 22-carat gold and Rs 50,920 for 24-Carat gold, according to the Good Returns website. Sensex Tanks 200 Points to 37,925, Nifty Down to 11,131 Over Mixed Cues in Asian Markets.
Talking about the global markets and how the gold fared, the prices hit a record high today amid rising US-China tensions, a weaker US dollar and expectations of more stimulus pushed investors towards safe-haven assets like gold.
(The above story first appeared on LatestLY on Jul 27, 2020 12:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).