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Last Updated : Mar 09, 2020 06:20 PM IST | Source: Moneycontrol.com

3-Point Analysis | Gold shines bright, prices hit seven-year-high

Moneycontrol's Sakshi Batra does a 3-point analysis to understand the key reasons behind the rise in gold prices and what's the outlook going forward?

Gold prices on March 9 surged to a seven-year high of $1,700 an ounce in the international market after stock market rout owing to concerns over a widening coronavirus outbreak. Domestic gold prices have hit a record high of Rs 44,961 per 10 gram.

The virus has caused disruption to business operations, global supply chains and economic activity. Other reasons for the price surge are the plunge in crude oil rates and a weaker rupee.

Moneycontrol's Sakshi Batra does a three-point analysis to understand the key reasons behind the rise in gold prices and what's the outlook going forward?

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First Published on Mar 9, 2020 06:16 pm
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