MCX Gold prices declined by Rs 213 to Rs 40,080 per 10 gram in the Mumbai bullion market on rupee depreciation. It, however, traded steady in the international market ahead of European Central Bank’s first policy meet of the New Year later today.
Gold Price Outlook – Rates Consolidate as Corona-virus Breaks Out
Gold prices edged higher but were buoyed as riskier assets sold off following news of a new virus hitting China (Coronavirus) . The last time the world saw this kind of virus in Asia, known as SARS, gold prices rallied more than 27% over the next 12-months from March 2003 to March 2004.
Gold Prices Kiss Two-week high, China will Start Celebrating the Lunar New Year This Weekend
Gold prices rose to a two-week high on Tuesday as a new strain of pneumonia in China stoked fears of a wider epidemic that could hamper economic growth, sparking a sudden bout of risk aversion and sell-off in Asian stocks.