New Delhi: Gold prices on Thursday opened at Rs 46,300 per 10 grams in the futures trade on the Multi Commodity Exchange. Gold contracts for the October delivery closed at Rs 46,388. So far in the year, gold prices have crashed by more than Rs 4,000 thus making the yellow metal still a lucrative instrument for investment.
Gold still cheaper by nearly Rs 9,800 from record highs
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. At late morning trade, gold was at the level of Rs 46,380 per 10 grams on MCX, which is still cheaper by Rs 9,820.
Gold movement for August 02-13 (MCX October Futures)
Monday: Rs 48086/10 grams
Tuesday: Rs 47864/10 grams
Wednesday: Rs 47892/10 grams
Thursday: Rs 47603/10 grams
Friday: Rs 47570/10 grams
Monday: Rs 45886/10 grams
Tuesday: Rs 45962/10 grams
Wednesday: Rs 46388/10 grams
Gold in the national capital on Wednesday jumped Rs 159 to Rs 45,130 per 10 gram. In the previous trade, the precious metal had closed at Rs 44,971 per 10 gram. Silver also gained Rs 99 to Rs 61,250 per kilogram from Rs 61,151 per kilogram in the previous trade. In the international market, gold was trading higher at USD 1,733 per ounce and silver was flat at USD 23.36 per ounce.
With PTI Inputs