Amid limited investment options in China, the protracted crisis in its property sector, volatile stock markets and a weakening yuan are all driving money to assets that are perceived to be safer.
Gold traded higher by 300rs around 66300 in MCX as Comex gold found support near 2170$ and rallied to 2195$ with backed up from the FED s dovish statements the gold prices are broadly in positive trend, said Jateen Trivedi, VP Research Analyst, LKP Securities.
Gold and silver prices in India: The rates of gold and silver in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.