Spot gold markets shut due to lockdown in major states to prevent spread of coronavirus

Spot gold markets in India was on Monday shut due to lockdown in major states to prevent the spread of coronavirus, according to HDFC Securities

Press Trust of India March 23, 2020 18:18:54 IST
Spot gold markets shut due to lockdown in major states to prevent spread of coronavirus

New Delhi: Spot gold markets in India was on Monday shut due to lockdown in major states to prevent the spread of coronavirus , according to HDFC Securities.

As the virus cases climbed, the central and state governments in the country decided to lock down 75 districts to break the chain of transmission.

Spot gold markets shut due to lockdown in major states to prevent spread of <span class=coronavirus " width="380" height="285" class="size-full wp-image-5997841" />

Representative image. Reuters

The health ministry said states would earmark hospitals to exclusively treat coronavirus patients.

"Spot gold markets in India remained shut due to lockdown in major states to prevent spreading of COVID-19 infection. Gold futures at the MCX for April contract trade steadied near Rs 40,330 in the absence of spot markets despite sharp rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading flat at $1,493 per ounce and silver at $12.58 per ounce.

Updated Date:

also read

Anubhav Sinha receives first shot of coronavirus vaccine at Mumbai hospital
Entertainment

Anubhav Sinha receives first shot of coronavirus vaccine at Mumbai hospital

Anubhav Sinha shared the update with a picture of himself at the coronavirus vaccination centre.

COVID-19 impact: Indian households spent more on food, less on healthcare during first lockdown
India

COVID-19 impact: Indian households spent more on food, less on healthcare during first lockdown

However, the pandemic also saw a marginal reduction in food expenditures per capita in both rural and urban households between June 2019 to June 2020

Maharashtra: COVID-19 inoculation drive temporarily halted in Pune, Panvel and Satara due to shortage of doses
India

Maharashtra: COVID-19 inoculation drive temporarily halted in Pune, Panvel and Satara due to shortage of doses

In highest ever single-day spike, the state reported 59,907 new COVID-19 cases on Wednesday, taking the overall caseload to 31,73,261