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Gold price today mixed on hopes of global monetary easing

Gold prices jumped by Rs 391 to Rs 42,616 per 10 gram in the national capital on Monday.

Gold futures dipped 0.14 per cent or Rs 58 to Rs 41,898 per 10 grams, while silver futures edged 0.54 per cent or Rs 243 higher to Rs 45,238 per kg.

Bullioncounters were mixed in the opening trade on Tuesday as investors hoped that Group of Seven economies might announce some relief which made riskier assets attractive in the near term.

Finance ministers from the group are expected to hold a conference call on Tuesday, sources said, to discuss measures to deal with the economic impact of thecoronavirusoutbreak.

Goldfutures dipped 0.14 per cent or Rs 58 to Rs 41,898 per 10 grams, whilesilverfutures edged 0.54 per cent or Rs 243 higher to Rs 45,238 per kg.

Gold prices jumped by Rs 391 to Rs 42,616 per 10 gram in the national capital on Monday following positive global trend, according to HDFC Securities. Silver also zoomed Rs 713 to Rs 46,213 per kg from Rs 45,500 per kg in the previous trade.

Gold Rates – Spot & Futures (.995 purity)(MCX)DateGold Spot Price

Globally, Gold prices rose for a second-straight session as expectations grew for monetary policy easing by major central banks to cushion the economic fallout from the fast-spreading coronavirus outbreak.

Spot gold climbed by 0.5 per cent to $1,597.66 per ounce by 0236 GMT after a 0.4 per cent gain on Monday. US gold futures advanced 0.3 per cent to $1,599.10.

Meanwhile, data released on Monday showed US factory manufacturing activity slowed last month as new orders contracted, reflecting worries about supply chain disruptions due to the virus outbreak and underscoring the need for an interest rate cut.

Among otherprecious metals, Palladium gained 1 per cent to $2,548.36 per ounce, while platinum rose 1.5 per cent to $872.95. Silver was up 1.3 per cent at $16.94 per ounce.

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