Gold Price Today, 14 July 2021: Gold surges, but still cheaper by Rs 8300 from record levels

New Delhi: In the past week, gold prices have made a decent recovery. From around Rs 46,500 in early July, gold prices are now nearing the Rs 49,000 mark. On Wednesday (July 14), gold was trading at around Rs 47,972 per 10 grams on the Multi Commodity Exchange (MCX), expensive by Rs 83 than Friday’s closing rates. 

However, when compared to record highs, the yellow metal is still trading cheaper by a few thousand rupees. This offers a wonderful opportunity for investors willing to put their money on the yellow metal. 

Gold prices current week

Day             Gold (MCX August Futures)

Monday         Rs 47972/10 grams (currently trading) 

Gold prices last week

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 

Gold trading cheaper by around Rs 8300 from record levels

In 2020, stock investors flocked to bullion exchanges after the public markets crashed amid fears of COVID-19 driven economic downturn. With investments in gold surging, the prices of yellow metal hit record highs. Also Read: Sensex drops over 100 points in early trade, Nifty slips below 15,800

At one point in August 2020, gold touched its highest level of Rs 56,191. However, gold is currently trading at around Rs 47856 per 10 grams. This means that gold is currently trading cheaper by Rs around Rs 8330 cheaper from record highs. Also Read: CNG, cooking gas prices increased in Mumbai, check latest rates