New Delhi: Gold prices have been declining for the last few weeks amid subdued demand in the domestic and international markets. On Thursday (July 22), gold for delivery in August was trading lower by Rs 125 per 10 grams on the Multi Commodity Exchange. Gold futures are currently trading at Rs 47450 per 10 grams.
In the current week, August gold futures are selling cheaper by Rs 650, providing a great opportunity for investors planning to invest in the yellow metal, as experts expect recovery in the coming weeks.
Day Gold (MCX August Futures)
Monday Rs 48094/10 grams
Tuesday Rs 47876 / 10 grams
Wednesday Rs 47573 / 10 g
Thursday Rs 47450 / 10 g (currently traded)
Last Week’s Gold Movement (July 12-16)
Day Gold (MCX August Futures)
Monday Rs 47774 / 10 grams
Tuesday Rs 47889/10 grams
Wednesday Rs 48299 / 10 g
Thursday 48400/10 grams
Friday Rs 48053/10 grams
8750 rupees cheaper cheaper than gold business record high
Last year, due to the economic crisis due to COVID-19, investors had invested heavily in gold. In August 2020, the price of 10 grams of gold on MCX reached a high of Rs 56,191. Though gold is currently trading at Rs 47450 per 10 grams, the yellow metal is certainly cheaper by around Rs 8750 from the record highs.
MCX Silver: September futures of silver have also declined continuously in the current week. Till last week, silver futures were trading above Rs 68,000 per kg. However, the futures price of silver has slipped below Rs 67,000. Read also: Sensex climbs 639 points; Nifty tops 15,800
Silver futures are currently trading with a fall of more than Rs 100 per kg, but the prices still remain above Rs 67,000. Silver futures prices have declined by Rs 2600 last week. Read also: Amazon Alexa’s male counterpart Ziggy is here! Check How to Switch Voice on Echo Speakers
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