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MUMBAI: Amid the continued sell-off in the equity market across the globe, gold prices on Monday crossed the Rs 60,000 per gram milestone in India.
Gold price had climbed Rs 400 to Rs 58,040 per 10 gram in the national capital on Friday
The recent rally in the yellow metal was supported by safe haven buying as concerns about the banking crisis continue after the European Central Bank hiked interest rates despite the ongoing financial stability risks.
Gold price had climbed Rs 400 to Rs 58,040 per 10 gram in the national capital on Friday
The recent rally in the yellow metal was supported by safe haven buying as concerns about the banking crisis continue after the European Central Bank hiked interest rates despite the ongoing financial stability risks.
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Gold rose above $2,000 an ounce for the first time in more than a year after banking crises in the US and Europe triggered a return to haven buying. Bullion surged 6.5% last week in its biggest advance since the early days of the pandemic in March 2020 amid growing fears over Credit Suisse Group AG and as several regional American lenders collapsed.
(With inputs from agencies)
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