Gold futures closed nearly Rs 400 per 10 grams stronger at Rs 48,300 on Wednesday. Though gold futures had slowed down, it has once again started gaining momentum. Gold futures are currently trading around Rs 48,400, up to about Rs 100.
Gold moves this week (July 12-16):-
Day- Gold (MCX August Futures)
Monday - 47774/10 gm
Tuesday - 47889/10 gm
Wednesday - 48299/10 gm
Thursday- 48390/10 g (trading continues)
Gold cheaper by about Rs 7800 from the highest level:-
Last year, due to the corona crisis, people had invested heavily in gold, the price of 10 grams of gold on MCX had touched a high of Rs 56,191 in August 2020. 48,400 per 10 grams on August futures MCX, which is still cheaper by about Rs 7800.
Silver's September futures climbed 340 rupees per kilo to close at Rs 696.19, much close for Rs 70,000 on Wednesday. However, silver crossed Rs 70,000 intra-day. Silver futures are currently trading 300 rupees per kilo stronger.
Silver moves this week (July 12-16):-
Day- Silver (MCX August - Futures)
Monday - 69375/kg
Tuesday - 69081/kg
Wednesday - 69619/kg
Thursday- 69700/kg (trading continues)
Silver cheaper by Rs 10,280 from its highest level:-
Silver's highest ever level is Rs 79,980 per kg. According to this, silver is also cheaper by about Rs 10,580 from its highest level. Today, the July futures for silver are at Rs 69,700 per kg.