New Delhi: – Against the background of the ever-rising tension between the United States and China, the Gold rates jumped in the international market. The Gold rates in India also reached record levels, given the international price rise. The Gold rates on the Multi Commodity Exchange (MCX) rose by 1.5%, reaching ₹52,127 per ten grams. Silver reached ₹64,849 with an increase of ₹3,400. This is a record for silver in the last eight years.
The number of Coronavirus cases in the United States are increasing in leaps and bounds. At the same time, the value of the USD is decreasing. The Federal Reserve announced an interest rate cut to save the US economy. There is an unstable atmosphere on the international level, given the decreasing USD price and the increasing tension between the United States and China.
Against all this background, Gold is being preferred as a safe investment. The gold rates reached USD 1,944 per ounce, in the international market. Therefore, the rates also rose in the country to record levels. On Monday, there was an increase of ₹800 in one single day.