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Investors are watching the situation closely as selected companies have started work since this week. A flawless restart can raise investor sentiment. The number of reported coronavirus cases was 19,984, according to government data.
Gold futures rose 0.97 percent or Rs 438 to Rs 45,763 per 10 grams. Silver futures fell 0.31 percent or Rs 128 to Rs 41,620 per kg.
MCX Gold June on Monday held immediate support near 45,300 levels. However, upwards 45,900 levels remained intact and will act as resistance in the next session. Therefore, intraday MCX Gold is expected to consolidate in a range of 45,200-45,900, “said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Gold spot markets remained closed due to the blockade to prevent the spread of COVID-19, according to HDFC Securities.
Globally, gold prices held steady on Wednesday as fragile stocks, hit by falling oil prices, offset a stronger US dollar.
Spot gold held steady at $ 1,685.46 per ounce at 0041 GMT. Gold futures in the United States rose 0.9 percent to $ 1,703.60.
The metal fell as much as 2 percent in the previous session as investors sought cash to cover losses in other asset classes, mainly due to a drop in oil prices.
The SPDR Gold Trust, the world’s largest gold-backed exchange traded fund, said its holdings rose 0.37 percent to 1,033.39 t on Tuesday.
Palladium rose 2.1 percent to $ 1,963.68 per ounce, after hitting a near-month low in the previous session.
Platinum gained 0.4 percent at $ 749.76 an ounce, while silver decreased 0.3 percent to $ 14.88.
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