Gold Has Become Very Cheap In The Market

Gold has become very cheap in the market, silver prices also fall, know what is left of the rate. The market is also witnessing a decline in the prices of gold and silver on Thursday. Gold price on Multi Commodity Exchange i.e. MCX on October 5, 2020, was trending at Rs 52,285 per 10 grams at 10:21 am, falling by Rs 337, or 0.64 percent.

The closing price of delivery gold in October was Rs 52,622 per 10 grams on Wednesday. Similarly, on December 4, 2020, delivery gold was down by Rs 243 or 0.46 percent to trade at Rs 52,560 per 10 grams. The closing price of December contract gold was at Rs 52,803 per 10 grams on Wednesday.

Silver Price In Futures Trading

There is also a significant decline in silver prices in the futures market. On September 4, 2020, silver for delivery was trending at Rs 67,260 per kg at 10:33 am, a fall of Rs 703, or 1.03 per cent. On the other hand, the futures of silver contracted on December 4, 2020 was trading at Rs 70,000 per kg, falling by Rs 723, or 1.02 per cent.

Gold Price in International Market

Globally, according to Bloomberg, according to Bloomberg, the price of gold delivered on Comex in December 2020 is $ 16.60, or 0.84%, at $ 1,953.70 an ounce. Now, if we talk about the spot market, then it is seeing an increase of $ 18.44 i.e. 0.96 percent. Gold is trading at $ 1,947.42 an ounce in the spot market.

Silver Rate in International Market

Coming to the futures price of silver in the global market, the price of silver delivered in December 2020 on Comex is down by $ 0.21, or 0.77 percent, at $ 27.28 an ounce. Talking about the spot market, silver is trending up by $ 0.48 i.e. 1.81 percent at $ 27.19 an ounce.