Gold Price: There was a huge drop in the price of gold on Thursday. Gold has become cheaper by Rs 8,600 from its all-time high rate.
New Delhi: Gold Price: In line with weak global cues, gold on Thursday closed at Rs 46,688 per 10 grams with a loss of Rs 98 in the national capital’s bullion market.
Huge fall in the price of gold
HDFC Securities gave this information. In the last trading session, gold had closed at Rs 46,786 per 10 grams. Silver also declined by Rs 699 to close at Rs 60,024 per kg.
It had closed at Rs 60,723 per kg in the last trading session. In the international market, gold was trading lower at $ 1,799 an ounce, while silver remained almost unchanged at $ 22.60 an ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices on Thursday weakened to $ 1,799 an ounce on the New York-based commodity exchange Comex. A firming dollar and rising yields on US bonds led to increased selling in gold, leading to a fall in the precious metal.
Gold became cheaper by Rs 8,600
In August last year, the price of gold had reached its all-time high rate.
In August, 2020, the price of gold was Rs 55,400 per ten grams. If we compare the current price of gold with its all-time high rate, then gold has become cheaper by Rs 8,600 per ten grams.
