Gold Price: There is a constant fluctuation in the price of gold. Even after this, gold is being sold much cheaper than its all-time high rate in the bullion market.
New Delhi: Gold Price: There is a constant fluctuation in the price of gold. Even after this, gold is being sold much cheaper than its all-time high rate in the bullion market. On Tuesday, there was a rise in the futures price of gold on the Multi Commodity Exchange (MCX).
Gold price stood at Rs 52,130 on MCX
Gold futures on Tuesday rose by Rs 59 to Rs 52,130 per 10 grams in futures trade as speculators created fresh positions on strong spot demand. On the Multi Commodity Exchange, gold for delivery in June rose by Rs 59, or 0.11 per cent, to Rs 52,130 per 10 grams. It traded for 18,196 lots.
Market analysts said fresh positions by participants led to the rise in gold futures. Globally, gold was trading 0.18 per cent higher at USD 1,949.10 an ounce in New York.
Gold became expensive in Indore too
On the other hand, in the local bullion market of Indore, the price of gold increased by Rs 300 per 10 grams and silver by Rs 200 per kg on Tuesday as compared to Saturday. According to traders, the average prices of precious metals in Indore were as follows.
- Gold: Rs 53500 per 10 grams
- Silver: Rs 68400 per kg
- Silver coin: Rs 750 per piece
The price of 22 carat gold is Rs 48,600 per 10 grams.
Even though there has been an increase in the price of gold on MCX, but according to the Good Returns website, the price of gold remained stable in the bullion market. On Tuesday, the price of 22 carat gold was Rs 48,600 per ten grams and the price of 24 carat gold was Rs 53,020 per ten grams.
Price fell so much from the record rate
In the market, 22 carat gold was sold at a price of Rs 48,600 per ten grams. Earlier 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 gold with its all-time high rate, then gold is now selling cheaper by Rs 6,800.
