New Delhi: There is a lot of volatility in the bullion market with prices of gold and silver constantly fluctuating. Gold prices closed almost flat on Tuesday, Silver prices were also seen ruling weak.
Gold futures for August delivery remains above Rs 49,000 per 10 grams on MCX. On Tuesday, the August futures of gold traded in a range. Even today, gold seems to be trading in a small range only.
Gold move this week (MCX August Futures)
Monday: Rs 49143/10 grams
Tuesday: Rs 49127/10 grams
Wednesday: Rs 49150/10 grams (Trading on)
Last week’s gold move (MCX June Futures)
Monday: Rs 48821/10 grams
Tuesday: Rs 48995/10 grams
Wednesday: Rs 49601/10 grams (August futures)
Thursday: Rs 48677/10 grams (August futures)
Friday: Rs 48994/10 grams (August futures)
Gold cheaper by around Rs 7,100 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 49,150 per 10 grams on MCX, which is still cheaper by Rs 7,100.