Gold rate Today: Gold and silver became cheaper today, know how long gold can come at 48 thousand
Highlights
- Gold price reached Rs 50,314 per 10 grams
- Silver price came down to Rs 56,254 per kg
- Gold at $ 1,717 an ounce in the international market
Gold rate Today: The trend of decline in the price of gold and silver is not taking the name of stopping. The effect of the continuous fall in the price of gold and silver in the international market is being seen in the domestic market. Due to this, gold fell by Rs 163 to Rs 50,314 per 10 grams in the national capital on Thursday. On Wednesday, gold was at Rs 50,477 per 10 grams. At the same time, the price of silver also declined by Rs 195 to Rs 56,254 per kg. 56,449 per kg in the previous trading day. HDFC Securities Senior Analyst (Commodities) Tapan Patel said that the fall in the price of gold in the Indian market reflects the fall in gold prices on COMEX. In the international market, gold was trading at USD 1,717 an ounce while silver was flat at USD 18.95 an ounce.
48 thousand rupees possible till August
Anuj Gupta, Commodity Expert, IIFL Securities told India TV that gold has entered the bear phase. In such a situation, gold can once again come up to Rs 48,000 per 10 grams by the end of July or early August. In such a situation, if there is no hurry, then it would be better to wait for a while to buy gold. There is no demand in the domestic market due to the absence of marriage season. This will also work to reduce the price of gold.
Fall in futures market
Gold on Thursday fell by Rs 324 to Rs 50,478 per 10 grams in futures market as speculators reduced their positions amid weak demand at the spot market. On the Multi Commodity Exchange, gold for delivery in August fell by Rs 324, or 0.64 per cent, to Rs 50,478 per 10 grams. It had a business turnover of 8,098 lots. Market analysts said offloading of positions by participants mainly led to the fall in gold futures prices.
Silver prices fall by Rs 567
Silver prices on Thursday fell by Rs 567 to Rs 56,560 per kg in the futures market as traders offloaded their positions. On the Multi Commodity Exchange, silver for delivery in September fell by Rs 567, or 0.99 per cent, to Rs 56,560 per kg.
Gold cheaper by Rs 6000 from record high
The price of gold has broken from the record high by about Rs 6000. After Corona, the price of gold had reached Rs 56200 per ten grams in 2020. At the same time, the price of gold fell to Rs 50,314 per 10 grams on Thursday. In this way, the price of gold has come down by about Rs 6000.
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