Gold-Silver Price: Great chance to buy Gold, Down Rs 10,000 from record Highs

New Delhi: The Indian market documented a decline in the gold price on Thursday for the fourth consecutive day. At the same time, gold prices remained around 8 months low in early trade today. On Friday, gold futures on MCX rose 0.12% to Rs 46,297 per 10 grams, while silver futures fell 0.4% to Rs 68,989 per kg.

In August 2020, gold reached a record level of Rs 56,200. Since then, gold has become cheaper by around Rs 10,000. Which is the lowest level of 8 months.

Change in Gold prices:

Gold prices reached Rs 46,297 per 10 grams on Friday in Delhi Sarafa Bazar. Which is the lowest level of 8 months. During the last trading session, gold had closed at Rs 45,959 per 10 grams in Delhi Bullion Market. Spot gold was flat at $ 1,770.15 an ounce in the international market but is on track to fall by 0.6% weekly.

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Silver Rates:

Silver prices recorded a slight decrease on Friday. Silver futures in Delhi bullion market fell 0.4% to Rs 68,989 per kg. At the same time, the precious metal had gained Rs 151 to Rs 69,159 per kg in the previous trading session. In the international market today, the price of silver rose 0.3% to $ 27.49 an ounce.

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Among other precious metals, silver rose 0.3% to $ 27.49 an ounce, while palladium at $ 2,400.43 and platinum rose 0.1% to $ 1,217.93. Holding in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.6% on Thursday.

Experts' opinion

Experts believe that if you want to buy gold and silver, this may be the right time. Gold prices have also slipped below Rs 46,000 per 10 grams. Gold price on MCX has come to the level of May 2020. At the same time, silver on MCX is expected to remain above the level of 68500 68000. According to experts, there is a possibility of a surge in silver, which can go up to the level of 70000.

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