New Delhi: 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 of gold 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 gold increased, the price of gold 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.
