Gold Price Today: Gold will be cheaper, the current price is likely to fall sharply Gold and silver price on MCX commodity market

Gold Price Today: Gold will be cheaper, the current price is likely to fall sharply Gold and silver price on MCX commodity market

Gold price | Earlier in the day, gold had lost Rs 66 to close at Rs 46,309 per ounce. Gold is also hovering around Rs 47,000 per ounce in the Multi Commodity Exchange (MCX) market.

Gold Price Today: Gold will be cheaper, the current price is likely to fall sharply

The price of gold

Mumbai: Gold, which has been fluctuating for the past few days, fell again on the first day of the week. After the market opened on Monday, the gold prices have started moving downwards. Therefore, the price of gold may fall further in the next few hours. (Gold and Silver price Today)

Earlier in the day, gold had lost Rs 66 to close at Rs 46,309 per ounce. Gold is also hovering around Rs 47,000 per ounce in the Multi Commodity Exchange (MCX) market. However, silver prices rebounded on Monday. In the previous session, silver had gained Rs 332 per kg. At present, silver is trading at Rs 67,248 per kg.

Gold prices hit a two-and-a-half month low

Gold prices, which have been rising for some time, now seem to be stabilizing somewhat. This week has seen many fluctuations in the gold rate. At the Multi Commodity Exchange (MCX) on Friday, gold had gained Rs 86. As a result, gold was trading at Rs 46,956 per ounce.

This is the first time since April 14 that gold prices have fallen so much on a multi-commodity exchange. On April 14, gold closed at Rs 46,831 per ounce on the MCX. On April 15, the same rate was Rs 47,401 per tonne. At present, gold prices are at a two-and-a-half month low.

India’s foreign exchange spill

While the Indian economy has been crippled by the Corona crisis, the country has been hit hard by a sharp fall in foreign exchange reserves. This effect is being seen due to the sharp fall in the gold rate. Foreign exchange reserves fell to 60 603.933 billion on June 18 from a record high of 14 4.148 billion.

The exchange rates of euro, pound and yen in foreign exchange reserves are fluctuating sharply. Earlier, on June 4, Forex Reserves saw an increase. Even during the Corona crisis, India was trusted by foreign investors. As a result, India’s foreign exchange reserves had reached 600 600 billion.

Related news:

Gold: Huge imports of gold in April-May; A big blow to the Indian economy

A sharp fall in the price of gold, a fall in India’s foreign exchange reserves

Gold: How much gold can a person carry, what is the law, know everything

(Gold and Silver price Today)

#Gold #Price #Today #Gold #cheaper #current #price #fall #sharply #Gold #silver #price #MCX #commodity #market

Leave a Comment