Gold Price Today: Gold cheaper by Rs 7900

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Gold prices have made a strong recovery in the past few weeks. In early July, 10 grams of gold was trading at around Rs 46,500 on Muti Commodity Exchnage (MCX). However, gold prices breached the Rs 48,000 mark last week. On Friday (June 16), gold was trading around at Rs 48,300 per 10 grams on MCX, around Rs 100 less than yesterday’s closing rate.

The fall in gold prices today could be a wonderful opportunity for investors looking to put their money on the yellow metal as experts are hoping that the rates might increase in the coming weeks.

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Gold prices current week

Day Gold (MCX August Futures)

Monday Rs 47774/10 grams

Tuesday Rs 47889/10 grams

Wednesday Rs 48299/10 grams

Thursday Rs 48400/10 grams

Thursday Rs 48306/10 grams (currently trading)

Gold prices last week

Day Gold (MCX August Futures)

Monday Rs 47299/10 grams

Tuesday Rs 47684/10 grams

Wednesday Rs 47910/10 grams

Thursday Rs 47721/10 grams

Friday Rs 47856/10 grams

Gold rates are cheaper by Rs 7900 from all-time highs

In 2020, investors of the stock market flocked to invest in precious metals due to the COVID-19 pandemic driven crash of public markets. With the economic distress in place, investors invested heavily in metals like gold, thereby fuelling the rally.

Thanks to the rally, gold hit its record high of Rs 56,191 in August 2020. If you compared record prices with today’s gold rate, then you’ll find that gold is currently selling cheaper by Rs 7900 from its all-time highs.