After falling to a 4-month low of Rs 45,600 per 10 grams, the price of gold has improved, but the precious metal is still Rs 9,000 from last year’s record high of Rs 56,200 per 10 grams. Per 10 grams is below.
Gold / Silver Price Today: On Monday, the first trading day of the week, there is a slight increase in the prices of gold and silver. On the Multi Commodity Exchange (MCX), the price of gold in October futures is trading with an increase of 01.2 percent per 10 grams. Whereas September futures silver has gained 0.40 per cent per kg. In the previous trading session, gold had closed flat while silver was down 0.7 per cent.Also Read: Monthly Interest Credits on your Savings Account like fixed deposit or fd in idfc first bank
Let us inform that the price of gold has improved after falling to a 4-month low of Rs 45,600 per 10 grams, but the precious metal is still down by Rs 9,000 per 10 grams from last year’s record high of Rs 56,200 per 10 grams.
New price of gold and silver (Gold/Silver Price on 23 August 2021)-
The trading of this precious metal is in a very limited range for the fourth consecutive day amid the strengthening of the dollar. On MCX, October futures gold prices rose by Rs 58 to Rs 47,216 per 10 grams. At the same time, the price of September futures silver rose by Rs 230 to Rs 61,951 per kg.Also Read: Home loan depends on net salary not on ctc know how much loan amount you can get
In global markets, gold declined marginally as a stronger dollar affected the precious metal’s attractiveness to holders of other currencies. Spot gold fell 0.1 per cent to $1,779.12 an ounce, while the dollar index was trading near a nine-and-a-half-month high of 93.33. However, losses in gold were limited amid rising concerns over the economic fallout from the spread of the delta coronavirus pandemic. Silver prices rose 0.2 per cent to $23.05 an ounce.
Gold may fall
Gold investors have been warned by UBS Group. He says that economic recovery is gaining momentum after Corona. US job market data has come out better than expected. In such a situation, the Federal Reserve can decide to increase the interest ahead of time.Also Read: Who will have insurance business after LIC’s IPO, Finance Ministry clarified
Commodity market experts of UBS Group say that if you are in a tactical position, then exit this investment. If you have invested strategically, then hedging it.
UBS Group estimates that gold can fall to the level of $ 1600 and silver $ 22 in the international market. On the contrary, Goldman Sachs says that gold will again reach the level of $ 2000.