Gold price today, 9 July 2021: Gold down Rs 8,300 from record highs; is now the time to invest?

On Friday, gold futures for September opened with a rise of roughly Rs 150 per ounce (July 9). Gold futures on the Multi Commodity Exchange are currently trading at roughly Rs 47856 per 10 kilos. However, gold is still trading at a lower price than it was last month, when it was trading at roughly Rs 49,000 per 10 kilos. With gold selling for thousands of rupees less, it could be an excellent time for investors to add some gold to their portfolios.

Day             Gold (MCX August Futures)

Monday             Rs 47299/10 grams

Tuesday             Rs 47684/10 grams

Wednesday        Rs 47910/10 grams

Thursday            Rs 47721/10 grams

Friday Rs 47856/10 grams (Currently trading)

Last week’s gold movement (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 47039/10 grams

Friday                 Rs 47285/10 grams

Gold trading cheaper by around Rs 8300 from record levels

Fears of an economic slump caused the stock market to fall last year. As a result, speculators poured money into precious metals such as gold, causing the yellow metal’s price to skyrocket to all-time highs.

Gold prices reached an all-time high of Rs 56,191 in August 2020. However, gold prices are currently trading at around Rs 47856 per 10 grammes, which indicates that the precious metal is currently selling at around Rs 8330 less than its all-time high.

In 2020, gold provided investors with a stunning 43 percent return. Investors are projected to receive excellent profits in 2021 as well.

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