Gold Silver Price, 03 March 2021: Gold is getting cheaper during the wedding season. Today, gold prices in India reached a low of last 10 months.
New Delhi. During the wedding season, gold is constantly getting cheaper. Since January 1 this year, gold (24 carat) has become cheaper by Rs 4,963 (9.89 percent) in the bullion market. Gold prices in India today reached near 10-month low. Today, gold futures on MCX was down by 0.11% and was trading at 45,500 per 10 grams. Let me tell you that this has fallen for the sixth time in the last seven days. If we talk about silver, silver futures remained flat at 69,216 per kg. Gold has become cheaper by about 11 thousand rupees in 10 months. In August 2020, gold reached a record level of Rs 56,200.
New Gold Prices: Gold prices reached Rs 45,500 per 10 grams in Delhi Sarafa Bazar on Wednesday. Which is the lowest level in 10 months. During the last trading session, gold had closed at Rs 44,760 per 10 grams in Delhi Bullion Market. On the other hand, spot gold fell 0.2% to $ 1,734.16 an ounce in the international market.
New Silver Prices: There was no significant impact on silver prices on Wednesday. Silver futures in Delhi bullion market remained flat at 69,216 per kg. In the last trading session, the precious metal had lost Rs. 1,847 to close at Rs. 67,073 per kg. Today, silver slipped 0.3% to $ 26.67 an ounce in the international market.
International and Commodity at Capital Advisor Kshitij Purohit said that gold is trending sideways right now. That is, there will be no major change in its price. And MCX Gold can remain at the level of 45600-45800. At the same time, Ajay Kedia, MD of Kedia Advisory says that gold has support between Rs 44,500-45000. This means that its price is unlikely to be much below 45 thousand rupees. According to Kedia, in the short term, gold will either remain in the same range or climb up.
Also Read: Kotak Mahindra Bank is now offering cheaper home loan than SBI, how much EMI will have to be paid?
Good chance to buy gold: There is a strong demand for gold in the domestic market. The wedding season is going on and the prices have come down considerably. In such a situation, the pressure of demand will increase further. In this sense, the fall in prices is a matter of short term. Gold will bounce back soon. This is why it is the most golden macaque to buy gold jewelery.
