Gold became cheaper by Rs 4,130, silver fell by Rs 10,379, know the price2 min read
New Delhi, Business Desk. In India, gold closed up on Friday and silver fell on Friday. On October 5, 2020 gold futures on the MCX exchange closed at Rs 51,715 per 10 grams, a gain of Rs 262 on Friday, the last trading day of the week. Similarly, the gold price of December futures closed at Rs 51,860 per 10 grams, rising by Rs 234 on Friday. Now let us know how much gold prices have changed this week.
Gold prices have increased this week. October futures gold opened at Rs 51,599 per 10 grams on MCX on Monday, September 14, the first trading day of this week. At the same time, it had closed at Rs 51,319 per 10 grams in the previous session. In this way, the price of this gold has increased by Rs 396 per 10 grams this week. Similarly, the gold price of December futures has increased by Rs 366 per 10 grams this week.
Let us now know the price of silver in the domestic bullion market. The silver price of December futures on MCX closed marginally lower at Rs 67,877 per kg on Friday, the last trading day of this week. The silver price opened at Rs 68,485 per kg on MCX on Monday, September 14, the first trading day of this week. At the same time, it had closed at Rs 67,928 per kg in the previous session. In this way, the price of this silver has registered a slight decline of Rs 51 per kg this week.
Let us now compare the current prices with the previous month’s gold and silver prices. Significantly, on August 6, the gold price of October futures closed at Rs 55,845 per 10 grams. Since then, the price of this gold has come down to Rs 4,130 per 10 grams. Similarly, on silver, on December 10, the silver price of December futures closed at Rs 78,256 per kg. Since then, the price of this silver has gone down by Rs. 10,379 per kg.
Let us now know the price of gold internationally. According to Bloomberg, on December last trading day of the week, the December futures of gold closed at $ 1962.10 an ounce, a rise of 0.63 per cent or $ 12.20 on Comex. In addition, the global spot price of gold rose 0.33 percent or $ 6.42 to close at $ 1950.86 an ounce on Friday.
Talking about silver prices globally, according to Bloomberg, the global price of December futures silver rose 0.11 percent or $ 0.03 to $ 27.13 an ounce on Friday on COMEX and the global spot price of silver 0.93 percent or 0.25 The dollar closed at $ 26.78 an ounce.
Gold has strengthened as a safe haven due to declining employment figures in the US and a sharp increase in Corona virus cases. This is the reason why gold has seen a rapid rise at the end of the week. At the same time, due to weakness in the US currency, gold prices have got support. The dollar index was down 0.1 percent against its rivals, making gold more attractive to buyers of other currencies.