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Gold Price Today: Gold came down below 49,000, selling so cheap from its record high

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Gold Price Today: Gold came below the mark of 49,000.

New Delhi:

Gold-Silver Price Update : Due to the decreasing cases of coronavirus, investor sentiment has improved, whose effect is visible in the bullion market. Gold and silver prices had seen a rise for the past several sessions, but in Thursday’s session both the metals have declined. Not only this, gold has also come below the mark of 49,000. Gold is currently running cheaper by Rs 7,400 from its record high – 56,200.

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Today, if you look at the rate of India Bullion and Jewelers Association Limited ie IBJA, then the price of gold is something like this (These prices are stated per gram without GST charge).

999 (purity) – 48,810
995- 48,615
916- 44,710
750- 36,608
585- 28,554
Silver 999- 70,650

Futures prices fall on weak demand

Both gold and silver prices have come down. Gold prices fell by Rs 120 to Rs 48,664 per 10 grams in the local futures market as speculators offloaded their positions on weak spot demand. On the Multi Commodity Exchange, gold for delivery in June fell by Rs 120, or 0.25 per cent, to Rs 48,664 per 10 grams. It had a business turnover of 3,499 lots.

Silver prices fell by Rs 271 to Rs 71,140 per kg in futures trade as silver traders reduced their positions. At the Multi Commodity Exchange, silver futures for delivery in July fell by Rs 271, or 0.38 per cent, to Rs 71,140 per kg. The futures contract was traded for 11,445 lots.

(with input from language)

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