New Delhi: In the last few weeks, there has been a sharp fall in the prices of gold. Crossing the Rs 49,000 level, the yellow metal per 10 gm level has come back to the Rs 47,000 level. On Wednesday (July 7), the price of gold per 10 grams on the Multi Commodity Exchange (MCX) was trading relatively flat at around Rs 47,686. While the prices are up a bit from last week, this could still be a good opportunity for investors planning to add gold to their portfolio, as experts expect the yellow metal’s rates to rise in the coming months. is.
Day Gold (MCX August Futures)
Monday Rs 47299 / 10 g
Tuesday Rs 47684 / 10 grams
Wednesday Rs 47686/10 g (currently traded)
Last week’s gold movement (June 28 – July 2)
Day Gold (MCX August Futures)
Monday Rs. 47008/10 grams
Tuesday Rs 46555 / 10 grams
Wednesday Rs 46839 / 10 g
Thursday Rs 47039 / 10 g
Friday Rs 47285/10 grams
Gold cheaper by around Rs 8,500 from the highest level
In 2020, investors turned to bullion exchanges after the stock market crashed due to the economic disruption caused by COVID-19. As a result of high demand, the price of 10 grams of gold on MCX touched an all-time high of Rs 56,191 in August 2020. Read also: Good news for the pilgrims! IRCTC to operate ‘Char Dham Yatra’ special train
In comparison, gold is currently trading at Rs 47,686 per 10 grams. This means that gold is currently selling cheaper by Rs 8,500 from the highest level. Overall, gold gave a return of 43 per cent in 2020. Read also: Sensex rose 100 points in early trade, Nifty near 15,850
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