Gold rises after falling Rs 1800 per 10 gram in just a day

Gold rises after falling Rs 1800 per 10 gram in just a day

Gold prices in India jump on the Multi Commodity Exchange (MCX) on Monday after strong gains in the previous session. The yellow metal prices were up after US Federal Reserve slashed interest rates by a percentage point to a range between zero and 0.25 per cent.

On MCX, April gold futures jumped 1.5% or ₹600 to ₹40,460 per 10 gram, after plummeting about ₹1,800 in the previous session.

Weak Indian rupee against the US dollar also supported gains the yellow metal.

Gold prices in India include 12.5% import duty and 3% GST. Silver also gained today with futures on MCX rising 1% to ₹40,932 per kg.