New Delhi: After a slight gain in July 2021, gold prices have started to crawl back in the first few days of August 2021. On Multi Commodity Exchange (MCX), October gold futures plummeted by Rs 230 per 10 grams on Tuesday (August 3), closing at around Rs 47864 per 10 grams.
However, on Wednesday (August 4), October gold futures are currently trading with a slight gain at around 47880 per 10 grams, amid gains in international precious metal prices.
In the international market, gold was trading in the green at USD 1,815 per ounce, while silver was flat at USD 25.71 per ounce, according to a report by news agency PTI.
Gold prices this week (August 02-06)
Day Gold (MCX October Futures)
Monday Rs 48086/10 grams
Tuesday Rs 47864/10 grams
Wednesday Rs 47875/10 grams (Currently trading)
Gold prices last week (July 26-30)
Day Gold (MCX August Futures)
Monday Rs 47461/10 grams
Tuesday Rs 47573/10 grams
Wednesday Rs 47577/10 grams
Thursday Rs 48281/10 grams
Friday Rs 48001/10 grams
Gold cheaper by about Rs 8300 from record highs
In 2020, gold prices had jumped to their record highs, courtesy of heavy investments in the bullion exchanges. The rally was fueled due to the stock market crash, as in the aftermath of the COVID-19 pandemic, investors flocked to safer investment options. Also Read: WhatsApp rolls out disappearing messages for all: Check how to send ‘view once’ photos, videos
Finally, in August 2020, gold prices touched their highest level of Rs 56191 per 10 grams on MCX. In comparison, gold is currently trading at around Rs 47900 per 10 grams on MCX. This means that gold is currently selling cheaper by Rs 8300 from record highs, offering a golden opportunity to investors to put their money on the shining yellow metal. Also Read: Markets maintain record run on earnings boost; Sensex scales 54,000-mark for 1st time
