Gold, silver edge closer to Rs 50,000 as fears of Covid resurgence rise

International futures hit $1,800, head towards all-time high

Precious metals inched towards fresh all-time highs. At Mumbai’s spot Zaveri bazar, gold price closed at Rs 48,690 per 10 grammes and silver closed Rs 1,055 higher at Rs 49,655 per kg, its highest since September 2019. With the addition of 3 per cent goods and services tax, the precious metals were trading above Rs 50,000.

Gold traded at over $1,800 in Comex gold futures and looked to surpass $1,900 in the international market. On the MCX, gold futures for August expiry were trading at Rs 48,915 per 10 grammes.  Silver witnessed a high of Rs 50,891 per kg in the