The Health Ministry issued new guidelines for reopening offices, religious places, hotels and restaurants to contain the spread of Covid-19. Domestic stock markets opened firm during early trade.
Globally, gold prices were higher on a weaker US dollar and rally in the equity markets halted. Spot gold was up 0.2 per cent at $1,714.78 per ounce. The dollar index has fallen over 1.5 per cent this week, making gold cheaper for holders of other currencies.
The stimulus measures and deep cuts in interest rates have supported bullion prices, which is often seen as a hedge against inflation and currency debasement. Also Read: How One-Time Billionaire Ambani's Empire Is Fading Into Oblivion?
According to news agency AFP, the European Central Bank has boosted its pandemic emergency support programme by 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an attempt to boost liquidity in the system to support the economy hurt by the Covid-19 outbreak.
Despite the turmoil, investors are still seeking refuge in the safe-haven metal and investing in gold ETFs. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings, dipped 0.1 per cent to 1,132.21 tonne on Thursday.
Gold traders will be closely track the US nonfarm payrolls data expected in the day. Meanwhile, the European Central Bank cleared a stimulus package on Thursday. Other precious metals including platinum soared 0.4 per cent to $840.39, while silver was trading flat at $17.72.