New Delhi: Gold Price: A fall was registered in the price of gold on Saturday. The reduction in the price of gold brought a smile on the faces of the people. In fact, amid a weak global trend, traders reduced the size of their positions, due to which gold futures fell by Rs 110 in futures trade on Saturday. With this, gold fell to Rs 51,787 per 10 grams.
Gold remained at Rs 51,787 per 10 grams
On the Multi Commodity Exchange, gold for delivery in June fell by Rs 110, or 0.21 per cent, to Rs 51,787 per 10 grams. It traded for 18,013 lots.
Market analysts said investors offloaded their positions in view of a weak trend overseas, which led to the fall in gold futures. Globally, gold was trading 0.08 per cent lower at USD 1,936.30 an ounce in New York. .
Gold is selling cheaper than the record rate
On Saturday, 22 carat gold was sold in the market at the rate of Rs 48,250 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 7,150.
Gold became expensive in indore
On the other hand, in the local bullion market of Indore, the price of gold increased by Rs 200 per 10 grams and silver by Rs 100 per kg on Saturday. According to traders, the average prices of precious metals remained as follows.
Gold: Rs 52800 per 10 grams
Silver: Rs 67700 per kg
Silver coin: Rs 750 per piece
Rise in the price of silver
On the other hand, silver futures on Saturday rose by Rs 189 to Rs 66,954 per kg as traders increased their positions on strong spot demand. On the Multi Commodity Exchange, silver for delivery in May rose by Rs 189, or 0.28 per cent, to Rs 66,954 per kg. It had a business of 6,921 lots.
Market analysts said fresh positions were created by traders due to a firm trend in the domestic market, which led to the rise in silver futures. Globally, silver was trading 0.28 per cent higher at USD 24.81 an ounce in New York. .
