Gold Price Hits Yearly Low

Gold price has gone down by Rs 1,218 from the rate calculated on July 21, 2020.

New Delhi: Gold price may reach the level of Rs 55,000-mark and the silver may hover between Rs 68,000 and Rs 72,000-mark by Diwali 2021.

Gold price has gone down by Rs 1,218 from the rate calculated on July 21, 2020. On the other hand, Silver price has gone up by Rs 12,130 per kilogram in compare to the rate on July 21, 2020, the Hindustan report says.

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  • However, gold has become cheaper by Rs 8,032 from the all-time high rate and silver price has gone down by Rs 9,028 from all-time high rate, as per the Hindustan report.
  • On July 20, Gold prices fell Rs 46 to Rs 48,048 per 10 gram in the futures trade as speculators reduced their positions amid low demand.
  • On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by Rs 46, or 0.1 per cent, to Rs 48,048 per 10 grams in a business turnover of 6,283 lots, the PTI report says.
    Analysts attributed the fall in gold prices to trimming of positions by participants.
  • Silver futures traded on a subdued note on Tuesday after opening higher. The September contract of silver on the MCX was trading at Rs 67,228 per kg, lower by Rs 18 from its previous close, according to an IANS report.
  • Silver future opened on a positive note at Rs 67,409, slightly gapped higher from previous closing, trading with sideways to moderately positive trend in Tuesday morning, the IANS report says.

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