Gold futures closed sharply higher on Thursday. Gold had also gone above Rs 48,500 per 10 grams on intra-day on Thursday. Gold, today, was trading at 48,300, down 100 rupees, on a mild weakness of 100 rupees. Gold has become costlier by Rs 500 per 10 grams so far this week.
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 - 48400/10 gm
Friday- 48306/10 g (trading continues)
Gold cheaper by about Rs 7900 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. 48,300 per 10 grams on August futures MCX, which is still getting cheaper by about Rs 7900.
September futures of silver went up to Rs 69889 per kg in intraday on Thursday, finally closing at Rs 69,680 per kg with a strength of about Rs 280. Even today silver futures are showing a depth of around Rs 100. This week silver has become costlier by about Rs 400 per kg so far. But even once the closing has not happened beyond Rs 70,000.
Silver moves this week:-
Day- Silver (september MCX - futures)
Monday - 69375/kg
Tuesday - 69081/kg
Wednesday - 69619/kg
Thursday - 69681/kg
Friday - 69780/kg (trading continues)
Silver cheaper by Rs 10,280 from its highest level:-
Silver has hit an all-time high of Rs 79,980 per kg. According to it, silver is also cheaper by about Rs 105.80 from its highest level. Today, the July futures for silver are at Rs 69,700 per kg.