The redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA), RBI said.
Gold futures, maturing on June 5, 2024, stood at Rs 72,813 per 10 grams on the MCX, up Rs 536 or 0.74 per cent from the previous day’s close of Rs 72,277.
Gold futures on MCX recorded an increase of Rs 779 per 10 grams which is 1.09 per cent above the previous trading session’s closing price of Rs 71,644.
Gold futures, maturing on June 5, 2024, stood at Rs 70,981 per 10 grams on the MCX, after recording an increase of Rs 345 or 0.49 per cent over the previous close of Rs 70,636.
Gold futures contract on the MCX for June 2024 expiry opened at Rs 69,868 per 10 gm in morning trade, after which it soared to Rs 69,908 per 10 gm level following news of the precious metal scaling high of $2,323.70 per ounce in the international market.
Gold prices touched record levels as the US Federal Reserve is getting closer to cutting interest rates which is adding momentum to a rise in bullion prices.
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