Economy

Gold Price Today, 14 May 2021: Gold cheaper by almost Rs 9000 from record highs on Akshaya Tritiya, Silver declines marginally


New Delhi: Gold appears to be losing its sheen after its impressive rally last week. So far, gold futures have dropped by Rs 600 per 10 gram in the ongoing week on the Multi Commodity Exchange of India Ltd (MCX). The prices have also dipped in the bullion market.

On MCX, gold futures were trading 47340 per 10 grams on Friday. On Monday, gold prices had crossed the Rs 48000 mark, signalling a strong recovery of the yellow shining metal. Likewise, silver mostly traded in the red zone this week. 

Gold move current week

Monday: Rs 47,951/10 grams

Tuesday: 47,927/10 grams

Wednesday: 47,481/10 grams

Thursday: 47438/10 grams

Friday: 47340/10 grams 

Gold move last week

Monday: Rs 47319/10 grams

Tuesday: Rs 46871/10 grams

Wednesday: Rs 47000/10 grams

Thursday: Rs 47595/10 grams

Friday: Rs 47751/10 grams

Gold cheaper by almost Rs 9,000 from the highest level

In August 2020, amid the first wave of the Covid-19 pandemic, investors flocked to the bullion market after the stock market crashed. At that time, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Gold has declined by up to 25% since its peak. In 2020, gold investors bagged a healthy 43% return on their investment in the yellow metal. 

Meanwhile, Silver July futures fell by about Rs 100 per Kg. At current rates on the MCX, Silver futures are trading at around Rs 70,350 per Kg. 

Silver move current week

Monday: Rs 71,500 / kg

Tuesday: Rs 71,373 / kg

Wednesday: Rs 71,400 / kg

Thursay: 71681 / Kg 

Friday: 71429 / Kg

Silver move last week

Monday: Rs 69871 / kg

Tuesday: Rs 69441 / kg

Wednesday: Rs 69619 / kg

Thursday: Rs 71681 / kg

Friday: Rs 71429 / kg

Silver cheaper by Rs 9630 from its highest level

The highest level of silver is Rs 79,980 per kg, which means that the metal is cheaper by Rs 9630 from its highest level. 

 

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