Gold Price Today, 16 April 2021: Gold slides marginally, but prices still Rs 9200 lower

Gold, Silver Rate Update, 16 April 2021: Prices of gold and silver are seemingly increasing at a fast pace. On the Multi Commodity Exchange of India Limited (MCX), gold has breached the Rs 47000 mark while silver is trading at above Rs 68000. Gold and silver have recently also become dearer in the bullion market in the ongoing week. But today they are trading in the red zone.  

MCX Gold: The yellow metal’s prices increased as much as Rs 560 per 10 gram to 47175 yesterday. Today, gold has fallen by over Rs 100 but is still trading at levels above Rs 4700. In this week, gold prices have overall increased by Rs 650. 

Gold is trading Rs 9200 lower than its all-time high achieved last year when investors turned to safer investment at a time public markets crashed due to Covid-19 fears. Gold hit an all-time high of Rs 56191 in 2020, and gave an impressive 43% returns to investors. 

Gold prices this week 

Day                      Gold (MCX June delivery)      
Monday              46419/10 gram
Tuesday              46975/10 gram
Wednesday         46608/10 gram
Thursday            47175/10 gram 
Friday                 47070/10 gram (currently trading)

Gold prices last week

Day                    Gold (MCX June futures)      
Monday              44598/10 gram
Tuesday              45919/10 gram
Wednesday         46362/10 gram
Thursday            46838/10 gram 
Friday                 46593/10 gram

MCX Silver: Much like Gold, Silver also performed very well during the last hours of yesterday’s trade. The May contract displayed an impressive performance to close at Rs 68500 per Kg. Silver prices reached as high as Rs 68785 per Kg yesterday. 

But today, the May contract priced took a slight hit, as the silver prices fell by Rs 150 and were trading at around Rs 68400 per kg. Silver is still trading Rs 11580 lower than its all-time high at around Rs 66,100 per Kg. 

Silver prices this week 

Day                  Silver (MCX June futures)      

Monday           66128/Kg
Tuesday           67656/Kg
Wednesday      67638/Kg
Thursday         68540/Kg 
Friday              68400/Kg (currently trading)

Silver prices last week

Day                 Silver (MCX June futures)      

Monday          64562/Kg
Tuesday          65897/Kg
Wednesday     66191/Kg
Thursday        67501/Kg
Friday             66983/Kg

#mute