Gold/Silver Price Today: October futures gold on MCX fell 0.17 percent on Thursday. At the same time, the price of September futures silver has declined by 0.31 per cent per kg.
gold rate today
There is good news for those investing in gold and silver. Gold prices have declined for the fifth consecutive day in the domestic market. On Thursday, the October futures gold on the Multi Commodity Exchange (MCX) fell 0.17 percent to Rs 47,810 per 10 grams. At the same time, there has been a weakness of 0.31 percent per kg in September futures silver. The price of gold has broken by Rs 700 per 10 grams in five days.
New Gold Price: On Thursday, October futures gold prices on MCX fell by Rs 82 to Rs 47,810 per 10 grams. In the international markets, spot gold fell 0.1 per cent to $ 1,809.96 an ounce.
New Silver Price: On Thursday, September futures silver on MCX fell by Rs 209 to Rs 67,392 per kg. In the international markets, silver was flat at $25.34 an ounce. After reaching a three-week high in the last trading session, the price of silver has fallen today.
According to experts, global gold rates declined after the dollar strengthened and a top US Federal Reserve official’s remarks indicated the possibility of further tightening of the policy. This had an effect on gold.
Gold price may double in next 3-5 years
A fund manager says that in the next 3-5 years, the rate of gold may double as compared to the present. In the next 3-5 years, gold in the international market will be at the level of 3000-5000 dollars per ounce. In August 2020, gold reached an all-time high of $ 2075 per ounce. It is currently running in the range of $1800. At present, the 10-year US bond yield remains at 1.25 per cent, its all-time low.
Diego Parrilla predicted in the year 2016 that gold would reach record highs in the next five years. His guess was absolutely correct.
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