New Delhi: After a slight increase in July 2021, gold prices began to rebound in the first days of August 2021. On the Multi-Commodity Exchange (MCX), October gold futures plummeted by 230 rupees for 10 grams on Tuesday (Aug 3), and the price for 10 grams was about Rs 47,864.
However, on Wednesday (August 4), October gold futures are rising slightly to around 47.880 per 10 grams amid a surge in international precious metal prices.
According to a report by the PTI news agency, in the international market gold is trading green at US $ 1,815 an ounce, while silver remains flat at US $ 25.71 an ounce.
This Week’s Gold Price (Aug 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 is cheaper by about Rs 8300 from record highs.
By 2020, due to the massive investment in the gold exchange, the price of gold has risen to historical highs. The stock market crash drove the rebound as investors flocked to safer investment options after the COVID19 pandemic.
Finally, in August 2020, the gold price on MCX reached the highest level of 56191 rupees per 10 grams. In contrast, gold currently trades on MCX at approximately Rs 47,900 per 10 grams. This means that gold is currently sold at a lower price from a historical high at 8,300 rupees, providing investors with gold opportunities to invest funds in bright yellow metals.