In the futures market, mcx gold price touched an intraday high of ₹ 44,961 and an intraday low of ₹ 44,235 on MCX. For the April series, the yellow metal touched a low of ₹ 37,530 and a high of ₹ 44,961.
Gold futures for delivery in April gained Rs 229, or 0.52 percent on the MCX trading at Rs 44,687 per 10 gram in evening trade in a business turnover of 14,017 lots. Gold contracts for June delivery rose Rs 337, or 0.75 percent, at Rs 45,070 per 10 gram in a business turnover of 11,371 lots.
The value of the April contract traded so far is Rs 7,149.01 crore and June contract saw the value of Rs 936.78 crore.
Gold prices extended gains for the fifth consecutive day to touch a new lifetime high of Rs 44,415 per 10 gram in the Mumbai bullion market on safe-haven appeal as the spread of coronavirus weighed on the forecast for global economic recovery.
The rate of 10 gram 22-carat gold in Mumbai was Rs 40,684 plus 3 percent GST, while 24-carat 10 gram was Rs 44,415 plus GST. The 18-carat gold quoted at Rs 33,311 plus GST in the retail market.
“Gold prices rallied, posting their biggest weekly gain since October 2011, as mounting worries over the economic fallout from the fast-spreading coronavirus drove investors towards the safe-haven metal. Cases outside China are continuously on the rise, death toll and affected people cases are increasing with at the fastest pace in US, India, South Korea, Iran and few others.