Gold's August futures on MCX seem to be trading at an inclination of Rs 100 per 10 grams. Gold futures are currently trading at Rs 47,500. August gold futures have weakened by nearly Rs 600 this week. Gold has seen a lot of volatility on Thursday. Gold roamed within a radius throughout the day, but in the last hour, it saw a slight recurrence of purchases.
Gold movement this week (July 19-23):-
Day- Gold (MCX August Futures)
Monday - 48094/10 gm
Tuesday - 47876/10 gm
Wednesday - 47573/10 gm
Thursday - 47634/10 gm
Friday - 47525/10 g (trading continues)
Gold cheaper by about Rs 8700 from the highest level:-
Last year, due to the corona epidemic, 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 47,500 per 10 grams on August futures MCX, i.e. still getting cheaper by about Rs 8,700.
Silver's September futures also appeared to be trading in a realm yesterday. But in the last hour, it returned a little purchase, closing at Rs 270 per kg. Today again it seems to be very up and down. Silver futures dived 175 rupees in intra-day but now seems to be recovering from the fall. But the price is above Rs 67,000.
Silver moves this week:-
Day- Silver (september MCX - futures)
Monday - 67246/kg
Tuesday - 66606/kg
Wednesday - 67137/kg
Thursday - 67374/kg
Friday - 67372/kg (trading continues)
Silver cheaper by Rs 12,600 from its highest level:-
Silver's highest ever level is Rs 79,980 per kg. According to this silver is also around Rs 12600 cheaper than its highest level. Today, silver futures are at Rs 673,70 per kg.