New Delhi: Gold prices have been on a very topsy-turvy run lately. The price of the yellow metal has once again slipped by a good margin, thus paving way for investors to purchase gold.
Gold prices fell Rs 402 to Rs 46,238 per 10 grams in the futures trade on Monday, as speculators cut their positions amid low demand. On the Multi Commodity Exchange, gold contracts for the October delivery traded lower by Rs 402, or 0.86 per cent, to Rs 46,238 per 10 gram in a business turnover of 13,655 lots.
Gold cheaper by nearly Rs 10,000 from the highest level
Last year, due to the Corona crisis, people had invested heavily in gold. In August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Last year, gold gave a return of 43%. If compared to the highest level, gold has declined by 25 percent. Gold is at the level of Rs 46,238 per 10 grams on MCX, 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 in the national capital on Monday dipped Rs 317 to Rs 45,391 per 10 grams, in line with a fall in international precious metal prices. In the previous trade, gold closed at Rs 45,708 per 10 grams. Silver also tumbled 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 lower at USD 1,749 per ounce and silver also dipped marginally to USD 23.91 per ounce.
With Agency Inputs