Gold price update on March 5 2020: After early week rise thanks to coronavirus, yellow metal dips

Gold price update on March 5 2020: After early week rise thanks to coronavirus, yellow metal dips

Gold prices dipped by Rs 148 (0.34%) to Rs 43,421 per 10 grams

FPJ Web DeskUpdated: Thursday, March 05, 2020, 02:26 PM IST
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Gold jewelry | Photo Credit: Pexels

Bullion prices slipped on Thursday in the opening session amid the coronavirus outbreak in over 60 countries leading to an increase in the risk appetite of the investors.

Gold prices dipped by Rs 148 (0.34%) to Rs 43,421 per 10 grams while silver prices were Rs 158 lower (0.34%) at Rs 46,525 per kg.

Bullion prices were flat in global markets on Thursday. Spot gold was up by 0.1% at $1,637 per ounce.

The week started off pretty well as gold prices jumped despite the coronavirus outbreak.

On Wednesday, gold prices zoomed Rs 1,155 to Rs 44,383 per 10 gram on with continuous rupee deprecation and strong buying in global safe-haven assets, according to HDFC Securities.

Silver prices also jumped Rs 1,198 to Rs 47,729 per kg from Rs 46,531 per kg in the previous trade.

In the international market, gold and silver were trading flat at USD 1,638 per ounce and USD 17.17 per ounce, respectively.

So far over 95,000 people have been infected and more than 3,200 people have died all over the world from the virus that emerged from China and spread across other countries.

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