With the world economy heading into a recession amid the covid-19 crisis, gold prices are soaring to new heights every day.
The yellow metal has surged around 7% in the first 15 days in the month of April, according to data (wholesale market price) published by the Indian Bullion and Jewellers Association Ltd.
In the past three trading sessions as on 16 April, it has gone up by almost ₹1,500. It touched a high of ₹46,000 per 10 grams of gold of 999 purity on 13 April 2020.
In fact, gold futures expiring in June touched ₹47,000 per 10 grams of gold on 16 April for the first time during intraday trade on MCX, a commodity exchange.