New Delhi: Gold prices have seen a constant drop so far this week. The price of the yellow metal has once again slipped by a good margin, thus paving way for investors to purchase gold. Gold contracts for the October delivery were trading at Rs 45,930 per 10 grams in the futures trade on Tuesday on the Multi Commodity Exchange.
Gold cheaper by over Rs 10,200 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 45,930 per 10 grams on MCX, which is still cheaper by Rs 10,261.
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 Tuesday dipped Rs 176 to Rs 45,110 per 10 gram. In the previous trade, the precious metal had closed at Rs 45,286 per 10 gram. Silver also tumbled Rs 898 to Rs 61,765 per kilogram from Rs 62,663 per kilogram in the previous trade. In the international market, gold was trading with gains at USD 1,735 per ounce and silver was flat at USD 23.56 per ounce.
With Agency Inputs