Gold prices fall by Rs 6000 today; Check new rates here... (File Photo)
New Delhi: Gold and silver are in high demand in India because people here are fond of wearing gold and silver jewelry. But due to Corona virus infection, recession has spread in every area. Due to the possibility of a second wave here, investors have now started safe investment purchases in dollars.
MCX fell 0.4% to Rs 50,180 per 10 grams:
That is why the US Dollar has gained momentum, which is showing the effect on the prices of Gold and Silver. After Tuesday, gold prices have also come down on Wednesday.
October gold rate on MCX fell 0.4% to Rs 50,180 per 10 grams, while silver futures fell 1.6% to Rs 60,250 per kg. This week the prices of precious metals have fallen drastically worldwide. In the previous session, gold prices fell by Rs 100, while on Monday gold prices had broken by Rs 1,200.
Gold price down by Rs 6000:
Gold prices are still down by about Rs 6000 per ten grams from the previous month’s record highs. On August 7, gold prices on MCX had crossed Rs 56,000 per ten grams.
At the same time, the price in the bullion market reached Rs 56,200 per ten grams. Its now 51 thousand rupees per ten grams. In this sense, the price of 99.9 percent pure gold has been reduced by Rs 5000 per ten grams.
Gold prices have declined internationally. The support price has come down to $ 1900 per oz in the spot market today. US dollar is trending steadily. The dollar index reached an eight-week peak against other currencies.
Experts say that investors have started buying safe investment in dollar now due to the possibility of second wave of corona virus infection. Therefore, the US dollar continues to be bullish.
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