Gold Price: There was a big drop in the price of gold on Thursday. Gold is being sold much cheaper than the record rate. On Thursday, due to cutting of deals by speculators amid weak demand, the price of gold declined in the futures market.
New Delhi: Gold Price: There was a big drop in the price of gold on Thursday. At the same time, gold is being sold much cheaper than the record rate. On Thursday, due to cutting of deals by speculators amid weak demand, the price of gold declined in the futures market.
Gold became cheaper by Rs 331
On Thursday, gold fell by Rs 331 to Rs 52,418 per 10 grams. On the Multi Commodity Exchange (MCX), gold for delivery in June fell by Rs 331, or 0.63 per cent, to Rs 52,418 per 10 grams. It traded for 17,166 lots.
Analysts said cutting of positions by participants led to the fall in gold prices. Globally, gold was trading 0.66 percent lower at $ 1,946 an ounce in New York.
22 carat gold became cheaper by Rs 700
According to the Good Returns website, the price of 22 carat gold fell by Rs 700. Its price was recorded at Rs 49,150 per ten grams on Thursday. At the same time, the rate of 24 carat gold decreased by Rs 760. Its price was recorded at Rs 53,620 per ten grams.
Compared to the record rate, in August 2020, gold had reached its all-time high rate of Rs 55,400 per ten grams. If you compare the current price of 22 carat gold with its all-time high rate, then gold is now selling cheaper by Rs 6,250.
Silver prices fell by Rs 647,
While traders reduced their positions due to lack of spot demand, due to which silver futures fell by Rs 647 to Rs 68,123 per kg on Thursday.
On the Multi Commodity Exchange, silver for delivery in May fell by Rs 647, or 0.94 per cent, to Rs 68,123 per kg. It had a business of 5,291 lots. Globally, silver was trading 1.11 percent lower at $ 25.20 an ounce in New York.
