As gold prices turn volatile, brokerages reduce leverage to clients

Brokers said they have reduced leverages to most of their clients to twice the intra-day trading limit now as compared to five times earlier

Gold prices on Wednesday opened above Rs 41,000 in india’s spot and futures market following a sharp jump in morning trade in the international market. In the first half, standard gold was trading at a GST inclusive price of Rs 42,300 per 10 gram. The international price in the spot market hit a high of $1595 today.

Gold saw another jump on Wednesday following Iran’s attack on a US military base in Iraq, which increased the tension in the region. On the Multi-Commodity Exchange (MCX), gold for delivery in February opened at Rs 40946/10g today, but soon shot up to