Gold Rate Today: Gold jumps on weak rupee, volatile equities

NEW DELHI: Gold prices climbed in futures trade on Monday, taking support from the weakness of rupee while a volatile equity market boosted the appeal of gold as a safe-haven asset.

An uptick in demand by jewellers at spot market and positive global sentiment, too, pushed gold prices higher.

In the international markets, gold prices hovered near a six-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted demand for the safe-haven metal, Reuters reported.


Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 4.57 per cent on Friday from a day earlier, in their biggest one-day percentage gain since September 2008.



Silver also climbed on raised orders by industrial units and coin makers.

Around 10:50 am, the MCX Gold traded at Rs 34,288 per 10 grams, up Rs 121, while MCX Silver traded Rs 38,039 a kilo, up Rs 85.