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Panthera Resources Plc

Gold Futures Jump Nearly 2% Amid Coronavirus

Gold prices spiked on Wednesday as the government imposed a 21-day pan-India lockdown to curb the spread of the deadly coronavirus (COVID-19) pandemic. MCX gold futures strengthened by Rs 721 per 10 grams – or 1.74 per cent – from their previous close to touch Rs 42100.00 per 10 grams at the strongest level of the day, before trimming some of those gains. At 11:45 pm, the gold futures contract (delivery on April 3) was up 1.57 per cent (Rs 649.00 per 10 grams) at Rs 42,028.00 per 10 grams, compared with the previous close of Rs 41,379.00 per 10 grams. 

Gold jewellery prices vary in different parts of India – the second largest consumer of the precious metal – due to factors such as excise duty, state taxes and making charges. 

Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.