Gold prices broken for the third consecutive day, cheaper by record level by Rs 6000, learn new price

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Gold Today: After heavy selling on Tuesday, the prices of gold and silver fell in the foreign market on Wednesday. Talking about the Indian markets, the in the futures market fell 1.36 per cent to Rs 49,698 per 10 grams on Wednesday due to reduced demand by speculators here as spot demand weakened. On the Multi Commodity Exchange (MCX), gold fell by Rs 683, or 1.36 per cent, to Rs 49,698 per 10 grams for October delivery. It traded for 8,176 lots. At the same time, gold fell 1.48 percent to $ 1,879.30 an ounce in New York.

It is being told that in view of the possibility of a second wave of Coronavirus Pandemic, investors have now started the safe investment purchase in dollars. This is the reason why the US Dollar has seen a sharp trend, which is impacting the prices of Gold and Silver.

Gold prices fall on Wednesday as well : After Tuesday, gold prices also fell on Wednesday. Gold prices in futures market fell 1.36 percent to Rs 49,698 per 10 grams on Wednesday, as speculators reduced deals on spot demand. Gone. Talking about this week, during this time, a huge decline in the prices of precious metals has been recorded worldwide. In the previous session, gold prices had fallen by Rs 100, while on Monday gold prices had lost Rs 1,200.

Gold has become so cheap: From the record height of last month, gold prices are still seen below about 6000 rupees per ten grams. Talking about August 7, on this day gold prices on MCX had crossed Rs 56,000 per ten grams. At the same time, the price in the bullion market was seen at the level of Rs 56,200 per ten grams. After this, gold is now 51 thousand rupees per ten grams. This means that the price of 99.9 percent pure gold has been reduced by Rs 5000 per ten grams.

Know why gold prices are falling: Talking about the US dollar, there is a sharp trend in it. According to experts, in view of the possibility of second wave of virus infection, investors have now started to start safe investment purchases in dollars. This is the reason, the US dollar continues to be bullish.

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