Gold Price Today, 03 June 2021: Gold prices yet again decline, rates still cheaper by Rs 6,800 from record level

Gold prices have fallen yet again but massive decline is being seen in silver rates.

New Delhi: After witnessing upward trend for a couple of times, Gold prices have become cheaper once again, though silver has registered a bigger fall.

On Wednesday, Gold futures for August delivery closed at Rs 49601 per 10 grams with a good strength of Rs 160, but today it has lost all its gains. Gold is showing a decline of more than Rs 200 today, settling at a level of Rs 49400 per 10 grams. Similarly, there is a huge decline in silver rates too. Silver July futures had closed at Rs 72,678 with a strength of more than Rs 400 per kg. Silver July futures are trading today with a weakness of Rs 550. Silver July futures on MCX are currently at the level of Rs 72,130.

Gold’s move this week (MCX June Futures)

Monday: Rs 48821/10 grams

Tuesday: Rs 48995/10 grams

Wednesday: Rs 49601/10 grams (August futures)

Thursday: Rs 49400/10 grams (August futures, trading continues)

Last week's gold move (MCX June Futures)

Monday: Rs 48553/10 grams

Tuesday: Rs 48867/10 grams

Wednesday: Rs 48784/10 grams

Thursday: Rs 48581/10 grams

Friday: Rs 48542/10 grams

Gold cheaper by around Rs 6,800 from the highest level

Last year, due to the Corona crisis, people had invested heavily in gold. In August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Last year, gold gave a return of 43%. If compared to the highest level, gold has declined by 25 percent. Gold is at the level of Rs 49,400 per 10 grams on MCX, which is still cheaper by Rs 6,800.