New Delhi: There has been a lot of volatility in the prices of gold for some time now. The yellow metal has once again declined by a good margin, paving the way for investors to buy gold.
Gold prices fell by Rs 402 to Rs 46,238 per 10 grams in futures trade on Monday as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold for delivery in October fell by Rs 402, or 0.86 per cent, to Rs 46,238 per 10 grams, with a business turnover of 13,655 lots.
Gold cheaper by about Rs 10,000 from the highest level
Last year, people had invested heavily in gold due to the Corona crisis. In August 2020, the price of 10 grams of gold on MCX reached a high of Rs 56191. Last year gold gave a return of 43%. Compared to the highest level, gold has fallen by 25 per cent. On MCX, gold is at Rs 46,238 per 10 grams, which is still cheaper by Rs 9,953.
Gold Movement for July 02-06 (MCX October Futures)
Monday 48086/10 grams
Tuesday 47864/10 grams
Wednesday 47892/10 grams
Thursday 47603/10 grams
Friday 47570/10 grams
Gold on Monday fell by Rs 317 to Rs 45,391 per 10 grams in the national capital, in line with fall in the precious metal prices internationally. In the previous trade, gold had closed at Rs 45,708 per 10 grams. Silver also declined by Rs 1,128 to Rs 62,572 per kg from Rs 63,700 per kg in the previous trade. In the international market, gold was trading at $ 1,749 an ounce and silver also fell marginally to $ 23.91 an ounce.
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