If you did not buy gold on Akshaya Tritiya, now you have a good chance. There is a continuous decline in the prices of gold and silver. In the futures trade, gold has lost more than Rs 550 per 10 grams in the last four days. Gold is also getting cheaper in the bullion market. In August last year, gold in India reached a record high of Rs 56,200. But during the trading on Friday, the price of June futures gold on MCX slipped by Rs 136 to Rs 48,445 per 10 grams. That is, gold prices have come down by about Rs 8000 per 10 grams as compared to last year.
On Friday, both gold and silver prices fell on the Multi Commodity Exchange (MCX). On Thursday, gold slipped to Rs 48450 in intraday and gold futures closed down Rs 200. Gold continues to fall on Friday as well. Gold is trading down by more than Rs 250 per 10 grams today. Let us tell you that in four days, gold has broken more than 550 rupees.
At the same time, the price of July futures silver has lost 0.47 percent. Yesterday, the silver futures closed higher than Rs 320 per kg after slipping below 71,000 at the July futures intraday. Currently, it has a fall of Rs 670 per kg and is sitting at a level of Rs 71,000. Silver has broken more than Rs 1000 in four days. The highest level of silver has been Rs 79,980 per kg. According to this, silver is also cheaper by about Rs 8930 from its highest level.
According to the India Bullion and Jewelers Association (IBJA), gold and silver prices have fallen in the bullion market. Today, in the bullion market, gold is running at a rate of Rs 48587 per 10 grams, while the price on Thursday was Rs 48810. Similarly, the price in silver has also come down, today the rate of silver in the bullion market is Rs 70588 per kg, while on Thursday the rate was Rs 70650.
Let us tell you that the central government is going to make gold hallmarking mandatory from June 15. That is, from this date, only BIS or Gold Hallmarking Gold Jewelry will be sold in the country. According to analysts, despite all the ups and downs, gold is the best commodity in terms of investment. Last year, gold gave 43% returns to investors.