While gold and silver prices have begun to recover, they remain well below the all-time highs reached in August of last year. Gold rates have stalled at Rs 47500 per 10 grams, while silver has lost nearly Rs 700 per kg in two trading sessions.
Gold is trading lower on the first trading day of the week. On Friday, gold futures on the MCX closed at Rs 47,530 per 10 grams, a loss of more than Rs 200. Gold rose above Rs 48,000 intraday on Friday. Gold is currently selling for less than Rs 47,500 per 10 grams. Last week, gold was trading in the Rs 47,400 to Rs 47,800 range. So far this month, gold has increased in price by Rs 2800 per 10 g.
Gold range last week (April 19-23) on MCX June futures
Monday: Rs 47,393/10 grams
Tuesday: Rs 47,857/10 grams
Wednesday: Rs 48,228/10 grams
Thursday: Rs 47,772/10 grams
Friday: Rs 47,532/10 grams
Gold range last week (April 19-23) on MCX June futures
Monday: Rs 46,419/10 g
Tuesday: Rs 46,975/10 grams
Wednesday: Rs 46,608/10 grams
Thursday: Rs 47,175/10 grams
Friday: Rs 47,353/10 grams
Gold range (week of 5-9 April)
Monday: Rs 44,598/10 grams
Tuesday: Rs 45,919/10 grams
Wednesday: Rs 46,362/10 grams
Thursday: Rs 46,838/10 grams
Friday: Rs 46,593/10 grams
People traded heavily in gold last year as a result of the Corona crisis. The price of 10 grams of gold on the MCX hit a peak of Rs 56191 in August 2020. Last year, gold returned 43 percent of its initial investment. As compared to its peak, gold has dropped by 25%. Gold is currently trading at Rs 47,450 per 10 grams on the MCX, which is Rs 8750 lower than its peak amount.
In terms of silver, the May futures contract fell by more than Rs 500 per kg on Friday, and the fall is still ongoing today. On Friday, silver closed at Rs 68674 per kg; today, silver dropped by Rs 450, slipping to Rs 68200.
