Is now the golden chance to buy gold? Watch this report to know more
News | March 13, 2021 19:42 ISTShould you buy gold now or wait a bit more? Are you confused? Watch this detailed report as it helps you find answers to all your queries.
Should you buy gold now or wait a bit more? Are you confused? Watch this detailed report as it helps you find answers to all your queries.
The Modi government has announced a cut in the import duty on gold and silver, a move welcomed by the industry as it will bring down prices of precious metals in the domestic market and boost exports of gems and jewellery.
Buying a gold coin or jewellery on the occasion of Dhantera and Diwali is not just a tradition in India but also considered a wise investment. Besides financial value, gold has social value as well.
Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the COVID-19 pandemic, showed data by the commerce ministry.
Gold price fell for the fourth consecutive day on Thursday, declining by Rs 485 to Rs 50,418 per 10 grams in the national capital amid weak international trends, according to HDFC Securities.
Gold prices rose by Rs 340 to Rs 53,611 per 10 gram in the national capital on Monday, in line with firm international trend, according to HDFC Securities.
Gold futures on the Multi-Commodity Exchange (MCX) reached a new record level on Wednesday as it neared the Rs 55,000 mark. The October contract of gold on the MCX touched an all-time high of Rs 54,910 per 10 gram. It is currently trading at Rs 54,848, higher by Rs 297 or 0.54 per cent from its previous close.
In the previous trade, it had closed at Rs 51,471 per 10 gram. Silver, however, declined by Rs 109 to Rs 62,262 per kg, from Rs 62,371 per kg on Thursday.
Gold prices on Wednesday hit a fresh high as economic uncertainty continues in the wake of the rising number of coronavirus cases. Gold futures on the Multi-Commodity Exchange (MCX) on Wednesday touched a new high and neared the Rs 50,000 per 10-gram mark. The August contract on MCX earlier in the day surged to a new high of Rs 49,996 per 10 gram.
Gold prices fell by Rs 293 to Rs 49,072 per 10 gram in the national capital on Thursday amid rupee appreciation, according to HDFC Securities.
Gold prices on Wednesday rose by Rs 118 to Rs 48,350 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.
Futures contracts of gold continued to surge on the Multi-Commodity Exchange (MCX) on Thursday and hit a new high of Rs 47,000 per 10 gram. Currently, the June contract of gold on MCX is at Rs 46,975 per 10 gram, higher by 0.57 per cent from its previous close.
Gold prices on Monday rose 1.01 per cent to Rs 40,765 per 10 gram in futures trade as speculators were indulged in creating fresh positions amid a firm global trend.
Gold prices in India opened higher on Friday on the Multi Commodity Exchange (MCX) tracking gains in international prices. However, it still remained significantly off their recent highs.
Gold prices futures fell below Rs 40,000 per 10 gram on Tuesday in domestic markets after a sharp drop over the past few sessions amid coronavirus pandemic. On MCX, April gold was up 0.13% to ₹39,570 per 10 gram after falling about ₹850 in the previous session.
Gold prices on Tuesday tumbled by Rs 954 to Rs 43,549 per 10 gram in the national capital on stronger rupee and selling in global market, according to HDFC Securities.
Gold prices in India fell on Tuesday on profit-taking after rising for five days in a row, tracking a decline in global rates. On the Multi Commodity Exchange, April Gold prices declined 1.34% or ₹584 to ₹42,996 per 10 gram after the yellow metal hit a seven-year high in the previous session.
Gold prices on Monday jumped Rs 401 to Rs 43,067 per 10 gram in futures trade as speculators increased their bets tracking positive trend overseas.
Gold prices declined by Rs 281 to Rs 41,748 per 10 gram in the national capital on Monday, in line with the fall in global rates, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 42,029 per 10 gram.
Gold prices on Tuesday rose by Rs 203 to Rs 40,150 per 10 gram in futures trade as speculators widened their bets in line with positive overseas trend. On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 203, or 0.51 per cent, to Rs 40,150 per 10 gram in a business turnover of 1,873 lots.
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