Gold and silver prices have come down in Indian markets today. October futures on MCX have fallen by 0.65 percent to Rs 52596 per 10 grams. While the silver futures of September has fallen by 1 percent to Rs 70,345 per kg. Gold prices have been volatile since last week's record high of 56,000. In the previous session, gold had increased by 1 percent, while silver had increased by about 6 percent. So far this week, gold has become cheaper by more than Rs 2,000 per ten grams.
In global markets, gold prices today were flat at $ 1,952 an ounce. So far, gold has become 4 percent cheaper this week. Investors have registered gains after Russia approved the corona infection vaccine on Tuesday. Gold was supported by a weaker dollar, which has fallen for a third consecutive season against its rivals. That is, gold has become cheaper for holders of other currencies.
The holding of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund (ETF), rose 0.1 percent to 1,252.09 tonnes on Thursday. Meanwhile, Bridgewater Associates, the hedge fund of billionaire Ray Dalio, increased its investment in gold-backed exchange-traded funds or gold ETFs by 1-third in the second quarter. Bridgwater has bought fourteen million shares in the SPDR Gold Shares ETF. According to regulatory filings, this is similar to about 130,000 ounces of gold in the April-June quarter.
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