Spot gold markets shut due to lockdown in major states

New Delhi, Mar 23 () Spot gold markets in India was on Monday shut due to lockdown in major states to prevent spread of coronavirus, according to HDFC Securities.

As the virus cases climbed, the central and state governments in the country decided to lock down 75 districts to break the chain of transmission.

The health ministry said states would earmark hospitals to exclusively treat coronavirus patients.

"Spot gold markets in India remained shut due to lockdown in major states to prevent spreading of COVID-19 infection. Gold futures at the MCX for April contract trade steadied near Rs 40,330 in the absence of spot markets despite sharp rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading flat at USD 1,493 per ounce and silver at USD 12.58 per ounce. SUM HRS