Today’s gold price, August 9, 2021: Is it a good time for investors again? Gold is nearly Rs 10,000 cheaper than it was at its all-time high

New Delhi: Gold prices have recently been on a roller coaster ride. The yellow metal’s price has dropped by a significant margin yet again, allowing investors to purchase gold.

In the futures market on Monday, gold prices fell Rs 402 to Rs 46,238 per 10 grammes as speculators reduced their positions due to low demand. Gold contracts for October delivery fell by Rs 402, or 0.86 percent, to Rs 46,238 per 10 gramme on the Multi Commodity Exchange, with a business turnover of 13,655 lots.

Gold has dropped nearly Rs 10,000 from its peak last year as a result of the Corona crisis, which caused people to invest heavily in gold. The price of 10 grammes of gold on the MCX reached a high of Rs 56191 in August 2020. Last year, gold returned 43 percent of its initial investment. When compared to its peak, gold has dropped by a quarter. On the MCX, gold is trading at Rs 46,238 per 10 grammes, a Rs 9,953 discount.

Gold has dropped nearly Rs 10,000 from its peak last year as a result of the Corona crisis, which caused people to invest heavily in gold. The price of 10 grammes of gold on the MCX reached a high of Rs 56191 in August 2020. Last year, gold returned 43 percent of its initial investment. When compared to its peak, gold has dropped by a quarter. On the MCX, gold is trading at Rs 46,238 per 10 grammes, a Rs 9,953 discount.

Gold in the national capital fell Rs 317 to Rs 45,391 per 10 grammes on Monday, mirroring a drop in international precious metal prices. Gold closed at Rs 45,708 per 10 gramme in the previous trade. Silver fell Rs 1,128 to Rs 62,572 per kg, down from Rs 63,700 in the previous trade. In the international market, gold was trading lower at USD 1,749 per ounce, while silver was trading slightly lower at USD 23.91 per ounce.