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Gold Jewellery

Gold price is 7,900 rupees low, best time to invest?

Posted on July 15, 2021September 21, 2021 By Subrata Paul

Gold price is 7,900 rupees low, best time to invest?. Gold rebounded this week. On Thursday (July 15), the price of gold on the Multi Commodity Exchange (MCX) rose by 36 to 48,335 rupees per 10 grams.

At the beginning of July, the trading price of gold was approximately Rs 46,500. However, with the rebound in recent days, gold once again broke through the 48,000 rupees mark. But compared with record levels, the trading price of gold is still cheap. For investors, this may be an excellent opportunity to invest money in gold, hoping to get a decent return in the next few weeks.

Gold prices current week

Day             Gold (MCX August Futures)

Monday     Rs 47774/10 grams

Tuesday     Rs 47889/10 grams

Wednesday         Rs 48299/10 grams

Thursday        Rs 48335/10 grams (currently trading)

Gold prices last week

Day             Gold (MCX August Futures)

Monday             Rs 47299/10 grams

Tuesday             Rs 47684/10 grams

Wednesday        Rs 47910/10 grams

Thursday            Rs 47721/10 grams

Friday                Rs 47856/10 grams

The trading price fell to approximately 8,300 rupees.

Due to economic difficulties caused by COVID19 concerns, after the stock market crash, stock investors invested heavily in precious metals in 2020. As investment in the commodity increased, the rates rose to record levels last year.

In August 2020, the price of gold reached the highest level of 56,191 rupees. In contrast, the current trading price of gold is about Rs 48,300, which is about Rs 7,900 cheaper than the historical high. 

Stay tuned with Artifex.News for further updates. Stay Connected, Stay Informed!

Image Credit: Wikimedia Commons.

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