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Thursday, December 2, 2021

Gold Prices Today: futures gold prices up on MCX, but gold prices up by Rs 1400 in bullion markets

Today, gold and silver prices in India have also increased due to strong global cues and the rise in the price of gold in international markets. Today, gold prices saw a boom on the Multi Commodity Exchange (MCX). Futures gold (Future Gold), which was delivered on April 5 at 11 am, was trading at a level of Rs 46,920 per 10 grams with a gain of 0.44% ie Rs 205. At the same time, on 05 March, futures silver with delivery was trading up by 1.12% i.e. by Rs 746, at Rs 67,564 per kg.

Market experts say that in the short term, gold prices may remain under pressure. Experts recommend buying it at a target of 46,400. On 4 February, there was a steep fall in the prices of gold and silver. Gold also saw a boom in the international market today. In the US, gold is trading up by $ 0.58 at $ 1,795.63 an ounce. At the same time, silver is trading at $ 26.30, falling by $ 0.03. US gold futures are trading up 0.4% at $ 1,797.60. Meanwhile, the holdings of SPDR Gold Trest, the world’s largest exchange-tailed fund of gold, rose 0.2% to 1,159.84 tonnes on Thursday.

Jewelery became cheaper due to custom duty cut

On the one hand, while the prices of futures gold and silver have increased on MCX, the prices of spot gold and gold jewelery in the bullion markets of the country have fallen by Rs 1400. Let us tell you that in the budget 2021, the central government cut import duty of precious metals to 7.5%. Due to this, gold prices have dropped in major cities like Mumbai, Delhi, Ahmedabad, Kolkata and Chennai.

According to the website of the Indian Bullion and Jewelers Association, the price of 22 carat gold in Mumbai today is Rs 46,600 per 10 grams. At the same time, the price of 24 carat gold has come down by Rs 1400 to 47,600. Similarly, the price of 22 carat gold in Delhi has come down by Rs 400 and it is being available for Rs 46,500 per 10 grams. The price of 24 carat gold is reduced by Rs 430 to Rs 50,730.

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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