Business / Gold, silver prices rise sharply, gold in bullion market expensive by Rs 600 in 1 day

Gold, Silver Rate: Gold and silver prices are seeing a sharp rise this week. The rally in gold futures started on Wednesday, continues today on the last trading day of the week. Silver prices have crossed Rs 71600 and gold is above Rs 47700.

MCX Gold: On Thursday, the June futures of gold had closed with a gain of around Rs 600 per 10 grams, this boom continues in the Son even today. Gold today is trading above Rs 47700 with a strength of 100 rupees.

Gold trick this week

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 56191. Last year, gold gave a return of 43%. If compared to the highest level, gold has broken down by 25%, gold is at Rs 47700 per 10 gram level on MCX, which is still getting cheaper by Rs 8500.

MCX Silver: As far as silver is concerned, the July futures of silver closed on Thursday with a strength of about 2000 rupees. But today it is seen sluggish, it is almost flat. July futures remain above 71600.

Silver cheaper by Rs 8360 from its highest level

The highest level for silver is Rs 79,980 per kg. Accordingly, silver is also cheaper by Rs 8360 from its highest level. Today, July futures of silver are at Rs 71620 per kg.

Gold and silver in bullion market

According to the India Bullion and Jewelers Association (IBJA), the price of gold and silver in bullion market has increased strongly. Gold today opened in the bullion market at Rs 47575 per 10 grams, while yesterday the rate was Rs 46992, ie Rs 583 per 10 grams expensive. Similarly, silver has also opened in the bullion market at Rs 71073, whereas yesterday the rate was Rs 69300, ie Rs 1773 has become expensive.