- It has become cheaper by more than Rs 4000 from its highest level this month.
- On 4 December this week, gold with gold delivery price closed at Rs 48106 per ten gram level
[avatar user=”Shraddha” size=”thumbnail” align=”left”]By Shraddha Srivastava[/avatar]
The pressure on the gold price is continuously increasing. It is now below the 49000 level. It closed at the 48100 level this week. On October 30, the gold price had closed at the level of 50700. According to that, till now it has become cheaper by more than Rs 2600.
Due to the positive news about Corona Vaccine, the pressure on the price of gold is increasing. In such a situation, did the glow of gold now disappear? This question is important because gold has become cheaper by more than Rs 2600 in November. It has become cheaper by more than Rs 4000 from its highest level this month.
8200 cheaper than August’s all-time high
In the month of August, gold reached an all-time high of 56379. On 4 December this week, gold with gold delivery price closed at Rs 48106 per ten gram level. It lost Rs 411 on the last day of trading. On Thursday, gold had closed at the level of 48517. It has lost more than Rs 8200 against the August high.
4000 cheaper than the highest level in November
If you look at the performance of the whole month, on October 30, gold for December delivery closed at Rs 50699 per ten grams. On November 6, it reached the all-time high of Rs 52167 per ten grams. Since then, there has been a continuous decline in it. On November 27, it closed at the level of Rs 48106 per ten grams. It has fallen by Rs 4000 from the highest level this month and by 2600 in the last four weeks as compared to the last day of October.
Delivery gold condition
On MCX, gold in December delivery (Gold MCX Price) declined by Rs 411. Gold for February delivery also fell by Rs 404 to close at Rs 48114 per 10 grams. Gold for April delivery declined by Rs 485 to close at Rs 48158.
$ 170 cheaper in November
In the international market, there is a lot of pressure on the price of gold international price. On the last day of the week, gold for December delivery fell by $ 22.40 to close at $ 1783 an ounce. On October 30, it closed at $ 1880 per ounce. Accordingly, it has fallen by a steep $ 97. The highest level for November was at 1951.70 dollars per ounce (November 6). It has become cheaper by $ 170 an ounce from the November high.
Gold becomes cheaper in bullion market
On Friday, gold fell marginally by Rs 43 to Rs 48,142 per 10 grams in the Delhi bullion market. HDFC Securities has given this information. The price was Rs 48,185 per 10 grams in the previous trading session. Silver also declined by Rs. 36 to Rs. 59,250 per kg. Its closing price in the previous session was Rs 59,286 per kg.