Gold prices are expected to fall once again. Gold fell by Rs 332 in futures trade on Wednesday. Gold was at Rs 46,567 per 10 grams. This is the lowest price of gold in the last eight months.
According to the website Good Returns, the price of 22-carat gold in Mumbai on Wednesday was Rs 46,240. The price of 24-carat gold has gone up to Rs 47,240. The price of 22 carat gold in Delhi is Rs 45,900. It has dropped by Rs 500 compared to Mars. For 24 carats, it has gone up to Rs 5,070. In Chennai, the price of 22 carats is Rs 44,160 and the price of 24 carats is Rs 48,180. In Kolkata, 22-carat gold is priced at Rs 46,170 and 24-carat gold is priced at Rs 48,470.
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At present, gold is trading at Rs 46,567 per 10 grams on multi-commodity exchanges. It has fallen by Rs 332. This is the lowest level of gold in the last eight months. Earlier in June, it had touched Rs 46,600.
One kg on MCX The price of silver 68,910, down by Rs. 462. Silver was trading at Rs 70,263 on Tuesday. Gold has risen slightly in the global market. The price of gold is around २० 1820 per ounce.
On the one hand, while gold is fading, platinum is on the rise. Platinum has hit a six-and-a-half-year high in global commodity markets. Recovery of the economy, increase in fuel demand, and improvement in the automotive industry have led to increased demand for metals for automotive spare parts.
Due to the Corona crisis and economic uncertainty, large corporations around the world had invested heavily in gold. In August 2020, gold hit an all-time high of Rs 56,200 in the commodity market. However, the corona preventive vaccine was researched and the gold boom began to fade. Gold prices have been steadily declining since August. Gold ETFs have invested Rs 625 crore in January. This is an increase of 45% over December 2020.
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