Gold became cheaper by around 9000 rupees, a steady decline this week

Gold-Silver Rate:  Gold and silver prices have seen a steady decline this week. This week, gold futures have weakened by Rs 600 per 10 grams. Apart from futures, gold prices have also softened in the bullion market.

MCX Gold: On Monday, the gold futures on MCX closed very close to Rs 48,000 per 10 grams, it was thought that gold will cross the 48,000 level this week, but due to the continuous decline, gold has slipped to the level of 47,300. . Even today there is sluggishness in sleep. The June futures of gold on MCX appear to be trading with a weakness of 100 rupees.

Gold is cheaper by around Rs 9000 from the highest level

Last year, due to the Corona crisis, people had invested heavily in gold, in August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Last year, gold gave a return of 43%. If compared to the highest level, gold has broken down by 25 percent, gold is at Rs 47300 per 10 gram level on MCX, which is still getting cheaper by Rs 8900.

MCX Silver: As far as silver is concerned, the July futures of silver have also opened with weakness today. Silver futures also have a slight weakness of Rs 100 per kg. It is currently revolving around 70,350.

Silver cheaper by Rs 9630 from its highest level

The highest level for silver is Rs 79,980 per kg. According to this, silver is also cheaper by Rs 9630 from its highest level. Today, July futures of silver are at Rs 70350 per kg.

Gold and silver in bullion market

According to the India Bullion and Jewelers Association ie IBJA, there is a slight change in the prices of gold and silver in the bullion market. On May 13, the bullion market was closed, on May 12, the bullion market sold gold at a rate of Rs 47764 per 10 grams, which was Rs 47789 on May 11, which meant a slight drop in prices. Similarly, silver in the bullion market sold on May 12 with a slight softening at Rs 70948.