New Delhi: The BSE, National Stock Exchange, forex, bullion and money markets will remain closed on Wednesday on account of Ram Navami'.
On Tuesday, gold futures on MCX closed at Rs 47,829, posting gain of Rs 440 per 10 grams. Though the beginning was very sluggish, but it started picking up as the business progressed. There was a good purchase in gold in the last hours of trading. Gold had also crossed Rs 47900 in intraday. When compared to Tuesday last week, gold has become expensive by Rs 854 in a week.
Gold in the national capital on Tuesday fell by Rs 305 to Rs 46,756 per 10 gram in line with a fall in international precious metal prices and rupee appreciation. In the previous trade, the precious metal had closed at Rs 47,061 per 10 gram. Silver also dipped Rs 113 to Rs 67,810 per kilogram from Rs 67,923 per kilogram in the previous trade.
International Gold prices rose on Wednesday, hovering near a seven-week high hit earlier this week, as a softer dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal. Spot gold was up 0.5% to $1,786.80 per ounce at 0657 GMT, after hitting $1,789.77 on Monday, its highest since Feb. 25. U.S. gold futures gained 0.5% to $1,786.90 per ounce, a Reuters report said.
Gold prices last week (April 12-16)
Day gold (MCX June futures)
Monday: Rs 46,419/10 grams
Tuesday: Rs 46,975/10 grams
Wednesday: Rs 46,608/10 grams
Thursday: Rs 47,175/10 grams
Friday: Rs 47,353/10 grams
Gold prices two weeks ago (April 5-9)
Day gold (MCX June futures)
Monday: Rs 44,598/10 grams
Tuesday: Rs 45,919/10 grams
Wednesday: Rs 46,362/10 grams
Thursday: Rs 46,838/10 grams
Friday: Rs 46,593/10 grams
Gold cheaper by around Rs 9000 from the highest level
Last year, due to the Corona crisis, people had invested heavily in gold, in August 2020 the price of 10 grams of gold on MCX reached the highest level of Rs 56,191 per 10 grams. Last year, gold gave a return of 43%. If compared to the highest level, gold has become weaker by up to 25 percent. Gold is at Rs 47830 per 10 gram level on MCX, which means that it is still Rs 8370 cheaper as compared to the highest level touched in August.
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