A fall of Rs 372 was recorded in the Delhi bullion market. After this fall, its closing price was Rs 66,072 per kg. Earlier in the trading session it was Rs 66,444 per kg.
gold rate today
The trend of ups and downs in the price of gold and silver continues. On Wednesday, August 4, gold for October futures on the Multi Commodity Exchange (MCX) was seen trading at a gain of 0.14 per cent. With a rise of 0.14 percent, the price of ten grams of gold has reached Rs 47,932. On the other hand, when it comes to silver, it is also registering a rise of 0.32 percent and it is seen trading at Rs 68,132 per kg.
Along with the domestic market, a mixed effect has been seen in the trading of gold and silver in the global market. In the global market, gold closed at $ 1814 an ounce on Tuesday, while silver also closed at $ 25.58 an ounce for September futures.
bullion market condition
Earlier on Monday and Tuesday, a soft trend was seen in gold for two consecutive days. On Tuesday, gold fell by Rs 31 to close at 46,891 in the Delhi bullion market. On the other hand, talking about silver, a fall of Rs 372 was recorded in the Delhi bullion market here too. After this fall, its closing price was Rs 66,072 per kg. Earlier in the trading session it was Rs 66,444 per kg.
price may double
Gold had reached its all-time high in August 2020 during the Corona period. In the domestic market, it is about Rs 9000 cheaper than that level. A fund manager says that in the next 3-5 years, the rate of gold may double as compared to the present. According to him, the central banks and the government around the world have flooded the system with liquidity. How dangerous its effect can be, it is not being discussed at the moment.
All time high level was touched in August 2020
He said that in the next 3-5 years, gold in the international market will be at the level of $ 3000-5000 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.
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