Is this the right time to buy gold and silver, there has been such a decline in a week

Gold And Silver Prices: Be it MCX or Delhi bullion market, a big drop has been seen in the price of gold and silver in the last one week. Gold prices have fallen by more than 6.50 percent in both places. At the same time, silver prices have also seen a decline of more than 7 percent. The real reason for the reduction in gold and silver in MCX is the increase in tax on those trading in futures and options. On the other hand, the reason for the fall in gold and silver in Delhi bullion market is the reduction in import duty in the budget. This is the reason why a huge drop has been seen in the prices of both metals in the last one week. Experts say that this is the time to buy gold and silver. Let's see how much the prices of gold and silver have become in MCX and Delhi bullion market?

How much has gold and silver become cheaper on MCX

• On July 19, the price of gold on MCX was Rs 72,990 per 10 grams. When MCX closed on 26 July, the price of gold was 68,186 per 10 grams.
• This means that in the last one week, gold became cheaper by Rs 4,804 per ten grams.
• That is, during this period, the price of gold has become cheaper by 6.58 percent on MCX.
• If we talk about silver, then on 19 July, the price on MCX was Rs 89,646 per kg.
• While on 26 July, the price of silver on MCX was Rs 81,371.
• This means that in the last one week, the price of silver has come down by Rs 8,275 per kg.
• That is, in a week on MCX, silver has seen a decline of 9.23 percent.

In Delhi bullion market

If we talk about Delhi bullion market, then on Friday, there was a slight increase of Rs 50 and the price has come down to Rs 70,700. The special thing is that in the last one week, gold has become cheaper by 6.54 percent i.e. Rs 4,950 in Delhi. On the last trading day of last week, gold was at Rs 75,650 per ten grams. If we talk about silver, then there has been a lot of decline in the last one week. By the way, on Friday, the price of silver in Delhi has seen a rise of Rs 400. Due to which it has come down to Rs 84,400. The special thing is that on the last trading day of last week, the price of silver in Delhi was seen at Rs 91,600. This means that silver in Delhi has become cheaper by 7.86 percent i.e. Rs 7,200 per kilogram during this period.