They went on to add that yellow metal price rise is expected to continue in immediate short-term as the precious metal may once again emerge as an 'investor's haven.' Speaking on the triggers aiding gold price rally Amit Sajeja, Vice President — Research at Motilal OSwal said, "Primary reason for gold price rally is weakness in the US Dollar. Sajeja said that one more trigger that helped yellow metal rate rise further is weak US economic data. Gupta said that there is around ₹1500 to ₹1800 per 10 gm difference in the landing retail gold price and the gold price at MCX. He said that retail gold price would be ₹1500 to ₹1800 higher than the gold price appearing on the MCX screen.

Source: Mint May 08, 2021 04:07 UTC