Gold Price Today: Retail bullion market-Sarafa Bazar-opens after 70 days lockdown; metal shines
Gold Price Today: The retail bullion market finally opened today after remaining closed for 70 days during Coronavirus lockdown.
Gold Price Today: The retail bullion market finally opened today after remaining closed for 70 days during Coronavirus lockdown. Though, some of the retail bullion markets (Sarafa Bazar) falling in the green and orange zones were allowed with some restrictions to open, entire bullion market was allowed to open from 1st June 2020 — Unlock 1.0. During COVID-19 pandemic, gold prices have skyrocketed as the yellow metal emerged as investors' safe haven amidst a sea of uncertainty.
After the opening of jewelers' shop, demand for physical gold is expected to gain momentum. For latest gold price, one can click on the Indian Bullion and Jewelers Association (INJA) website — ibjarates.com. At ibjarates.com, gold and silver prices get updated at regular intervals and the price shown on the IBJA website is the ideal price for the Indian Sarafa Bazar across nation.
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According to the latest gold price as shown at the ibjarates.com, 24 carat gold is priced at Rs 47,184 per 10 gm while 22 caret gold is priced at Rs 43,221 per 10 gm. On Monday evening i.e. on 1st June, 24 caret gold price had a closing of Rs 47,043 per 10 gm that means, gold price has glittered at the Sarafa Bazar today i.e. on 2nd June 2020.
Similarly, the Silver price as shown by the IBJA website, shot up Rs 340 to Rs 49,670 per kg levels. Silver had a closing price of Rs 49,330 per kg on Monday. That means, both gold and silver have shined today in the retail bullion market.
At Multi Commodity Exchange (MCX), gold price today rose Rs 226 to Rs 46,880 per 10 gm. And the total number of gold lots traded in 5th June expiry were 789.
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