Gold prices in India jumped over 2% on Monday to record levels amid a rush to invest in safe-haven assets globally as well as a steep fall in the rupee, dampening demand for the precious metal in the world’s second-biggest consumer. Local gold futures hit an all-time high of 41,096 rupees ($570.05) per 10 grams, taking their gains to more than 5% in 2020 after rallying nearly 25% in 2019. The sharp gold price rise has been deterring jewellers and retail buyers from making purchases, said Mukesh Kothari, director at dealer RiddiSiddhi Bullions in Mumbai. …read more
Source:: Yahoo Finance
