New Delhi: Gold prices have been witnessing quite a lot of ups and downs recently, although the rates of the yellow metallic are still a lot decrease as in comparison with the very best level it had touched in August final 12 months.
Those seeking to spend money on gold still have a superb window. On Friday, gold and silver closed with nice momentum, nonetheless futures prices are exhibiting a decline on Monday. Gold has as soon as again slipped beneath Rs 49,000 per 10 grams. While silver has come right down to 71,000.
On MCX, Gold futures for August supply are staging beneath Rs 49,000 per 10 grams. On Friday, gold had closed with a power of about Rs 350 per 10 grams and fell additional by Rs 200 to the level of Rs 48800 per 10 grams in late morning commerce.
Gold transfer final week (MCX Futures)
Monday: Rs 48821/10 grams
Tuesday: Rs 48995/10 grams
Wednesday: Rs 49601/10 grams (August futures)
Thursday: Rs 48677/10 grams (August futures)
Friday: Rs 48994/10 grams (August futures)
Gold cheaper by round Rs 7,500 from the very best level
Last 12 months, because of the Corona disaster, individuals had invested closely in gold. In August 2020, the worth of 10 grams of gold on MCX reached the very best level of Rs 56191. Last 12 months, gold gave a return of 43%. If in comparison with the very best level, gold has declined by 25 p.c. Gold is on the level of Rs 48,800 per 10 grams on MCX, which is still cheaper by Rs 7,500.
There can also be an enormous decline in silver prices. On Friday, the silver futures for July supply closed with a power of Rs 750. But right this moment it has registered a weak point of Rs 650, thus wiping out all of the momentum of Friday. The July futures of silver had closed round Rs 71550 on Friday, right this moment the speed is beneath Rs 71,000 per kg. Silver opened at Rs 71,320 as in opposition to the shut of Rs 71,539.
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