Gold Hits High Above Rs 50900 On MCX

28 Jun 2022 , 04:43 PM

Gold stayed under stress today as traders eyed firm global equities. The counter currently trades flat at $1823 per ounce as the market continues to eye the explosive undercurrent on the Russia-Ukraine front, capping the downside for the yellow metal. Asian stocks added to yesterdays gains. The Chinese Covid-19 worries receded as an easing in covid-19 restrictions in China raised prospects the economy will recover from the pandemic hit. European shares moved up impressively with major indices rising more than 1% on the day. The US stocks ended lower on Monday as investors largely stayed cautious. MCX Gold futures are trading at Rs 50833 per 10 grams, up 0.36% on the day after testing a high of Rs 50919 per 10 grams.Powered by Commodity Insights