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Capital Drilling Plc

Gold prices today hit record highs

In global markets, gold prices surged to over seven-year highs after US Federal Reserve chief warned that a full recovery of the US economy could drag through 2021 and depends on the delivery of a vaccine. Spot gold today rose about 1% to $1,759.98, the highest since October 2012.

Gold prices in India hit new highs for the second day in a row, tracking firm global rates. On MCX, June gold prices surged 0.7% to a new high of ₹47,700 per 10 gram. Silver futures in India rose nearly 3% to 48,053 per kg, adding to Friday’s ₹2,586 gain. Gold prices in India include 12.5% import duty and 3% GST. In India, the government has eased some coronavirus-driven restrictions, allowing shops and markets including barber shops, salons and spas except those in malls to open with staggered timings and some safeguards.

Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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