As per the data released by Reserve Bank of India on 10th July 2020, India’s Forex Reserves reaches to all time high at USD 513.25B.
International reserves are used to settle balance of payments deficits between countries.
Gold Prices are trading higher on Tuesday reaching to $1802 levels. This upward rally in Gold prices is mainly attributed to the rising cases of COVID-19 and cross border tension between India and China. Gold future risen by 1.18% to cross 1800 mark. MCX Gold future was up 1.02 per cent at 47780 per 10 grams, while Silver Future were trading at 50300 up by 2.50 per cent.
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Mahindra & Mahindra, from its recent fall till 245.40 has gain whopping 109% upside and trading at 514 today (23.06.2020; 01:00 PM IST). This upward movement is mainly drive by tractor segment and company's strong operational performance in the January-March quarter (Q4FY20). The company reported standalone net sales for the quarter were at Rs. 9,144 crore.
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Gold on slips more than 1.50% and break 4 weeks low on Wednesday mainly due to increased uncertainty about rising COVID-19 cases in Europe and U.S. presidential elections to be held on 3 November 2020. There are still so much concern and uncertainty related to COVID-19 and the possibilities of renewed lockdowns in Europe has send a panic wave across the markets.
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