New Delhi: Gold prices have been on the decline lately. Gold has once again slipped below Rs 47,000 per 10 grams and silver is also cheaper today by up to Rs 400 per kg. This week gold has stayed around Rs 47,000 per 10 grams level. For the whole week, the yellow metal traded in a very small range. On Wednesday, gold closed completely flat, while today it is trading with a fall of Rs 160, and with prices ranging below Rs 47,000 per 10 grams.
Gold this week (MCX August Futures)
Monday: Rs 47074/10 grams
Tuesday: Rs 47011/10 grams
Wednesday: Rs 47072/10 grams
Thursday: Rs 46900/10 grams (Trading continues)
Gold Rate Last Week (June 14-18)
Monday: Rs 48523/10 grams
Tuesday: Rs 48424/10 grams
Wednesday: Rs 48506/10 grams
Thursday: Rs 46958/10 grams
Friday: Rs 46728/10 grams
Gold cheaper by around Rs 9,300 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 46,900 per 10 grams on MCX, which is still cheaper by Rs 9,300.
International Gold prices
Gold prices edged lower on Thursday, pressured by a steady dollar, while investors attempted to navigate mixed signals from Federal Reserve officials on interest rate hike and awaited more U.S. economic data to gauge inflationary pressures. Spot gold was down 0.3% at $1,774.32 per ounce by 0452 GMT. U.S. gold futures fell 0.5% to $1,774.40, said a Reuters data. Silver was steady at $25.85 per ounce, palladium gained 0.2% to $2,617.86. Platinum eased 0.7% to $1,076.14.