On Thursday, the price of gold spot in Sarafa Bazar of Ahmedabad was Rs 48965 per ten grams while the price of Gold Future was Rs 49,202 per ten grams.
Gold rate fell on Thursday after reaching a new high in the last trading session. Gold futures fell 0.05 per cent to Rs 49,134 per ten gram in MCX, while silver climbed 0.09 per cent to Rs 51,427 per ten kg. Gold had gained 0.7 per cent in MCX in the previous session while Silver had gained 2.2 per cent. Considering the strength in the global rate, the price of gold had reached Rs 49,348 per ten grams in the last session.
Gold becomes costlier due to weak rupee
On Thursday, the price of gold spot in Sarafa Bazar of Ahmedabad was Rs 48965 per ten grams, while the price of Gold Future was Rs 49,202 per ten grams. According to HDFC Securities, on Wednesday, the price of gold in the bullion market of Delhi increased by Rs 723 and it reached Rs 49, 898 per ten grams. However, the price of silver declined by Rs 104 and sold at Rs 50,416 per kg. In fact, the fall in the rupee and the rise in the price of gold and silver in the international market showed the price of gold in the domestic market.
In the international market, gold reached $ 1800 an ounce on Thursday. In fact, due to the increasing infection of Coronavirus, the possibility of slowing economic activity has increased the value of gold and silver.
In the global market, the price of gold appeared strong and stable. On Wednesday, its price reached $ 1,808.44 an ounce. It was the highest price in September 2011 after reaching $ 1817 an ounce. However the US Gold Future remained flat and remained stable at 1819.80. In fact, for the last few days, the price of gold and silver was constantly increasing due to the shock to economic activities due to Kovid-19. But in the meantime, the stock market has increased due to a slight increase in economic activity. Gold prices have been falling for the last four-five days due to increasing trend towards the shares of investors.