There was a huge fall in the price of gold, gold became cheaper by Rs 8000
Gold on Tuesday declined by Rs 172 to Rs 47,246 per 10 grams in the national capital’s bullion market amid a correction in the rupee’s exchange rate. HDFC Securities gave this information.
Silver prices also slipped
In the last trading session, gold had closed at Rs 47,418 per 10 grams. Conversely, silver traded higher by Rs 342 to Rs 60,508 per kg. It had closed at Rs 60,166 per kg in the last trading session.
On Tuesday, the rupee gained 31 paise to close at 75.59 (provisional) per dollar in the foreign exchange market. In the international market, gold rose marginally to USD 1,797 an ounce, while silver remained almost unchanged at USD 22.53 an ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices on Tuesday rose 0.36 percent to $ 1,797 an ounce on the New York-based Commodity Exchange, COMEX.”
Gold became cheaper by Rs 8,000 from the record price
The price of gold had reached its all-time high rate last year. In August, 2020, the price of gold had reached Rs 55,400 per ten grams. At present, gold is priced at Rs 47,246 per ten grams.
If we compare the current price of gold with its all-time high rate, then gold has become cheaper by Rs 8,000 per ten grams from its record price.
