Gold expectations have been showing strength from the last three trading sessions. Gold futures remain above Rs 46,000 in these three trading sessions. However, Gold's October prospects on MCX had completely closed flat. However, gold did see a slight fluctuation on Thursday. Gold futures went up to over Rs 46,580 followed by a slip of Rs 461.51 but finally saw a slight improvement, making up for gold futures decline and closing flat completely. Today, gold futures are open at a slight rise and are trading above 46,400. Gold futures have now come very close to Friday's level of the past week.
Gold moves this week (August 09-13)
Day- Gold (MCX October Futures)
Monday- 45886/10 gm
Tuesday- 45962/10 gm
Wednesday- 46388/10 gm
Thursday- 46363/10 gm
Friday- 46440/10 gm (trading continues).
Gold cheaper by about Rs 9700 from the highest level:-
Last year, due to the Corona crisis, people invested a lot in gold, with the price of 10 grams of gold at MCX at a high of Rs 56,191 in August 2020. Now gold is at Rs 46,400 per 10 grams on October futures MCX, i.e. still getting cheaper by about Rs 9,700.
Silver moves on MCX:-
Now the symposium was on silver, silver's September futures closed more than Rs 900 per kg lower on Thursday. Silver futures traded lower all day, eventually slackening in silver futures. Silver futures slipped below Rs 62,000 at the time of in trad and closed at 61,860. However, silver futures started higher today. Silver futures are currently trading above Rs 62,000, up 180 rupees. Silver futures were close to Rs 65,000 on Friday last week, silver is still cheaper by Rs 3000 since last week.
Silver moves this week:-
Day- Silver (September MCX- futures)
Friday- 62042/kg (trading continues).