Gold prices above $1600: Bull run may persist until
some sign of containment of virus outbreak
Gold prices on international exchanges have been trending higher for past five sessions. The April contracts for
COMEX gold that was stuck in a narrow range of $50 for the past few sessions managed to breach the psychological
resistance of $1,600 per troy ounce to hit January 2020 high of $1,615.9 on February 20. Further, spot gold prices on
February 20 jumped to March 2013 high of $1612.98 and are up nearly 6 percent year-to-date.
On the domestic exchange, MCX April contracts for February 20 hit a record high of Rs 41,619 per 10 grams with
prices up more than 6 percent year-to-date.