Gold prices continue to be under pressure due to a surge in the US Bond Yield and a surge in the Dollar Index. The Dollar Index closed at 91.66 this week, while the 10-year US bond yield closed at 1.62. In the domestic market, gold has reached 44 thousand level (Gold rate today). Gold closed at one-year low this week. On the last day of the week, gold closed at the level of 44785 but during trading it touched the level of 44271. The minimum level for a year is Rs 44150.
At this time, gold (Gold latest price) has become cheaper by around Rs. 12000 from the all-time high of 56200 in August and so far this year by around 6000 rupees. On MCX, gold for April delivery fell by Rs 94 to close at Rs 44785 per ten gram level this week. Gold for June delivery closed at Rs 45124 and August delivery for 44985. In the international market, gold (Gold international rate) closed at $ 1725 level this week. According to the Reuters report, now the demand is increasing due to the fall in the price. There is every possibility of a rise in the price due to the rapid demand.
Dealers are charging premium from customers
The season of marriage and festivals has also come to a close. In such a situation, the demand in small cities has increased significantly. This information was given by Amit Modak, COO of PN Gadgil and Sons. Dealers are currently charging premium from customers. Dealers are currently charging a premium of $ 6 per ounce on the domestic price, 12.5 percent import duty and 3 percent sales tax. Earlier the premium charge was 5 per cent. There is 28.34 grams in 1 oz.
Silver prices also fall by 12000
Talking about silver, there is pressure in its price as well. Silver for May delivery on MCX closed down by Rs 650 to Rs 66895 per kg on the last day of the week. Silver for July delivery closed at Rs 67,880. Silver closed at $ 26.01 an oz in the international market. In August 2020, silver reached the level of 78 thousand. According to that, there has been a fall of about 12 thousand rupees in this too.
Gold may be cheaper during weddings, prices reduced by Rs 2238 in just 13 days