New Delhi: Gold Price: There has been a big fall in the price of gold in the bullion market. Gold prices fell on Monday in the local futures market as speculators offloaded their positions amid weak spot demand. On Monday, the price of gold fell by Rs 100. With this, the price of 10 grams of gold in the market has come down to Rs 47,352.
Hence the fall in gold prices
On the Multi Commodity Exchange, gold for delivery in February fell by Rs 100, or 0.21 percent, to Rs 47,352 per 10 grams. It traded for 7,878 lots. Market analysts said offloading of positions by participants led to the fall in gold futures prices.
Globally, gold prices rose 0.2 percent to $ 1,793.80 an ounce in New York.
Silver prices fall by Rs 142
At the same time, due to weak spot demand, traders reduced the size of their positions, due to which silver prices fell by Rs 142 to Rs 60,465 per kg in futures trade on Monday.
Silver became cheaper globally too
On the Multi Commodity Exchange, the futures contract of silver for delivery in March fell by Rs 142 or 0.23 percent to Rs 60,465 per kg. In this, deals were done for 17,409 lots. Globally, silver fell by 0.29 per cent to USD 22.35 an ounce in New York.
Gold became cheaper than the record price
In the year 2020, the price of gold had reached its highest level in the month of August. Then gold was being sold for Rs 55,400 per ten grams. On Monday, the price of gold was recorded at Rs 47,352. Compared to August 2020, there was a big drop in the price of gold by a record Rs 8,048.
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