Gold Price: A fall was recorded in the price of gold on Thursday. Gold became cheaper in the futures market on Thursday as speculators reduced their positions amid weak spot demand. There was a fall in the price of gold in the bullion market.
Gold price was Rs 50,775 per ten grams
On Thursday, gold fell by Rs 33 to Rs 50,775 per 10 grams. On the Multi Commodity Exchange, gold for delivery in June fell by Rs 33, or 0.06 percent, to Rs 50,775 per 10 grams. It had a business turnover of 10,770 lots.
Gold cheaper due to weakness in foreign markets
Market analysts attributed the fall in gold futures to offloading of positions by investors amid a weak trend in overseas markets. Globally, gold fell 0.12 per cent to Rs 1,868.30 an ounce in New York.
Gold prices fell by up to Rs 230
At the same time, the price of 22 carat gold decreased by Rs 200 in the bullion market. On Thursday, its price was recorded at Rs 47 thousand per ten grams. Similarly, a fall of Rs 230 was recorded in the price of 24 carat gold. Its price was recorded at Rs 51,280 per ten grams.
Compared to the record rate, 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 22 carat gold with its all-time high rate, then gold is now selling cheaper by Rs 8,400.
Gold prices rise in Indore, silver becomes cheaper
There. On Thursday, the price of gold increased by Rs 150 per 10 grams in the local bullion market of Indore. Today silver sold cheaper by Rs 200 per kg. According to traders, the average prices of precious metals were as follows:
Gold – Rs 52650 per 10 grams,
Silver – Rs 64300 per kg,
Silver coin – Rs 750 per piece
Silver futures fall on weak demand
Silver on Thursday fell by Rs 56 to Rs 62,426 per kg in the futures market as participants reduced their positions on weak demand.
In MCX, silver for delivery in May was down by Rs 56, or 0.09 per cent, at Rs 62,426 per kg. It traded for 205 lots. Globally, silver fell 0.18 per cent to $22.63 an ounce in New York.
