With businesses shut in several cities in India amid rising threat of coronavirus, investors are wary of betting on any asset class. The number of active cases were at 1,238, as per the government data.
Gold futures were down 0.51 per cent or Rs 218 to Rs 42,738 per 10 grams. Silver futures were up 0.19 per cent or Rs 77 to Rs 39,600 per kg.
The Indian spot gold markets remained shut on Tuesday due to countrywide lockdown to control COVID-19, according to HDFC Securities. The country is undergoing a 21-day lockdown since last week.
Globally, gold prices clawed back from a steep fall in the previous session, as the US dollar eased following the Federal Reserve’s latest stimulus boost and as Asian equities slipped with the coronavirus pandemic sharply slowing global growth.
Spot gold was up 0.4 per cent at $1,577.83 per ounce, as of 0030 GMT, having slumped 3.1 per cent in the previous session. U.S. gold futures slipped 0.3 per cent to $1,591.30.
Palladium eased 0.3 per cent to $2,344.99 per ounce, platinum fell 0.7 per cent to $717.39 and silver slipped 0.3 per cent to $13.93.
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