The price of gold continues to fall for two consecutive days. After a huge fall, gold is being sold at a very cheap price. After the fall in gold on Tuesday, now gold is selling at Rs 7,600 cheaper than its all-time high rate.
New Delhi: The price of gold continues to fall for two consecutive days. After a huge fall, gold is being sold at a very cheap price. After the fall in gold on Tuesday, now gold is selling at Rs 7,600 cheaper than its all-time high rate.
Gold prices fell so much on MCX,
Traders cut their positions amid a weak global trend, due to which the futures price of gold fell by Rs 347 to Rs 51,224 per 10 grams in futures trade on Tuesday. On the Multi Commodity Exchange, gold for April supply contract fell by Rs 347, or 0.67 per cent, to Rs 51,224 per 10 grams.
It traded for 4,786 lots. Market analysts said cutting down of positions by investors tracking a weak trend in international markets led to fall in gold futures. Globally, gold fell by 1.06 per cent to USD 1,924 an ounce in New York.
This is the price of gold in the bullion market.
On Monday, a fall of Rs 250 per ten grams was seen in the price of 22 carat gold. After this, now gold is being sold in the market at a price of Rs 47,750 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 7,600.
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