Gold Price Today, 1 July 2021: Gold sheds Rs 2670 in June, right time to invest? | Bullion News

Gold Price Today, 1 July 2021: Gold sheds Rs 2670 in June, right time to invest? | Bullion News


New Delhi: Gold prices are falling after hitting record highs last year. In June 2021, gold shed Rs 2670 to end the month at a per 10-gram price below Rs 47,000. Gold futures for August, however, gained Rs 284 on Wednesday (June 30). But today (July 1), gold futures are trading flat on Multi Commodity Exchange (MCX). This could be a golden opportunity for many buyers looking to invest in the yellow shining metal as gold prices have plummeted a lot from May. 

At present, Gold futures are trading above Rs 46,900 per 10 grams. Early this week, gold was trading above Rs 47,000. But since Tuesday, the yellow metal has failed to cross the Rs 47,000 mark. 

Gold moves this week (June 28 – July 2)

Day             Gold (MCX August Futures)

Monday         Rs 47008/10 grams

Tuesday         Rs 46555/10 grams

Wednesday    Rs 46839/10 grams

Thursday        Rs 46960/10 grams (Ongoing trading)

Last week gold movement (June 21-25)

Day             Gold (MCX August Futures)

Monday         Rs 47074/10 grams

Tuesday         Rs 47011/10 grams

Wednesday     Rs 47072/10 grams

Thursday        Rs 46870/10 grams

Friday             Rs 46925/10 grams

Gold cheaper by about Rs 9300 from the highest level

In 2020, gold prices were at their highest levels, courtesy of the stock market fall that saw investors flocking to invest in safer instruments such as precious metals. In August 2020, the per 10-gram price of gold touched its highest level at Rs 56191. 

However, since then, gold prices have been falling in the past few months. At present, gold is trading at around Rs 46900 per 10 grams, which means that the yellow metal is trading cheaper by Rs 9300 when compared to record highs. Also Read: Good news for Maruti Suzuki car owners! Free service, warranty timelines extended 

Meanwhile, trading of Silver September futures has also started from July 1. Yesterday, the July futures of silver closed with a gain of Rs 900. Also Read: Sensex drops 164 pts, Nifty slips below 15,700


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