Gold Prices Jump To Highest In 5 Months

Gold prices in India continued their recent upward trend while silver also extended gains. On MCX, gold futures rose 0.3% to five-month high of ₹54,006 per 10 gram, buoyed by firm global rates. Silver futures jumped 0.8% to ₹66,970 per kg. In global markets, gold rose to a five-month high as Chinese cities relaxed COVID-19 restrictions over the weekend. Spot gold gained past $1,800 per ounce, also supported by a pullback in US dollar. China is the biggest consumer of gold and scaling back of restrictions mean that gold demand will increase in the region, say analysts