Due to suspicion of a second wave of COVID-19 virus infection, investors have now started safe investment purchases in dollars. That is why there is a momentum in the US dollar. The effect of which is visible on the prices of gold and silver. After Tuesday, the price of gold has come down on Wednesday also. October futures on MCX fell by 0.4% to Rs 50,180 per 10 grams, while silver futures dropped 1.6% to Rs 60,250 per kg.
This week, the prices of precious metals have come down drastically all over the world. In the previous session, the price of gold declined by Rs 100, while the price of gold was broken by Rs 1,200 on Monday. Gold prices are still down by about Rs 6000 per ten grams from the previous month's record height. On August 7, the price of gold on MCX had crossed Rs 56000 per ten gram. The price reached the level of Rs 56200 per ten grams in the bullion market.
The same is now at 51 thousand rupees per ten grams. In this sense, the price of 99.9% pure gold has been reduced by Rs 5000 per ten grams. Gold prices have declined at the international level. The support price means that in the spot market today, the price has come down to $ 1900 per ounce. US Dollar is on the upward trajectory.
The dollar index reached an eight-week peak against other currencies. Experts say that investors have now started safe investment purchases in dollars due to suspicion of a second wave of COVID-19 virus infection. Corona has caused a huge stir in the market.
Reliance Retail gets its second investor, signs deal of 5550 crores
CBI charges Dairy Maker Kwality for Rs1400 crore bank loan fraud