Gold Price: Gold breaks by Rs 4,526 in a month, silver falls by more than 10,000, know prices. At the domestic level, gold prices fell on Friday. Gold futures on October 5, 2020, on the MCX exchange closed at Rs 51,319 per 10 grams on Friday, the last trading day of the week.
Similarly, the gold prices of December futures also fell on Friday on MCX to close at Rs 51,494 per 10 grams. Let us now know how much gold prices have changed in the last week. Gold prices have increased in the past week. October futures gold opened at Rs 50,801 per 10 grams on MCX on Monday, September 7, the first trading day of the previous week.
At the same time, it had closed at Rs 50,678 per 10 grams in the previous session. In this way, the price of this gold has increased by Rs 641 per 10 grams last week. Similarly, gold prices of December futures have increased by Rs 589 per 10 grams in the previous week. Let us now talk about silver in the domestic bullion market.
The silver prices of December futures on MCX closed at Rs 67,928 per kg, down by Rs 1,063 on the last trading day of the previous week. The silver price opened at Rs 68,232 per kg on MCX on Monday, September 7, the first trading day of the previous week. At the same time, it had closed at Rs 67,266 per kg in the previous session.
In this way, the price of this silver has increased by Rs 662 per kg in the last week. If we compare the current prices with the previous month’s high, both gold and silver prices have fallen significantly in the prices of metals. On August 6, gold for October futures closed at Rs 55,845 per 10 grams.
Since then, the gold has fallen by Rs 4,526 per 10 grams. Similarly, on December 10 last month, silver for December futures closed at Rs 78,256 per kg. Since then, the silver has fallen by Rs 10,328 per kg. Let us now know about gold prices globally. According to Bloomberg, on December last trading day of the last week, gold’s December futures fell 0.83 percent, or $ 16.40, to $ 1947.90 an ounce on Comex.
In addition, the global spot gold price fell by 0.28 percent, or $ 5.54, to close at $ 1940.55 an ounce on Friday. Similarly, the global futures silver prices for December futures dropped by 1.59 percent, or $ 0.43, to $ 26.86 an ounce on Friday and the global spot silver fell 0.55 percent or $ 0.15 to $ 26.73 an ounce on Friday.
According to experts, gold has weakened as a safe haven due to positive signs of the development of the Corona vaccine and the improvement in economic activity, but lower and negative interest rates, weakness in the US dollar, and expectations of an upcoming relief package Supporting gold prices.
Talking about India, there is an arrival of $ 908 in Gold ETF in August. This is the fifth consecutive month of inflows in Gold ETFs. Thus, a total inflow of Rs 5,356 crore has been done in Gold ETFs during the period January to August 2020.