Gold Price Today, 17 June 2021: Gold slips by Rs 900, cheaper by Rs 8600 from record highs

New Delhi: After a hike in prices last week, gold and silver futures for the month of August plummeted as much as 1.75% on Thursday (June 17) on the Multi Commodity Exchange (MCX) platform.

The fall in prices of gold and silver on June 17 is the largest drop in the last few weeks. Gold is currently selling cheaper Rs 900 on MCX, as compared to last week’s rate while silver prices have fallen by Rs 1500 in the ongoing week. 

MCX Gold: August gold futures on MCX are trading with a fall of about two per cent at rates below the Rs 48,000 mark. With a drop of Rs 900, gold futures are currently trading around Rs 47,600.  

Gold price this week

Day             Gold (MCX August Futures)

Monday                   48523/10 grams

Tuesday                   48424/10 grams

Wednesday              48506/10 grams

Thursday                 47600/10 grams (Trading continues)

Last week's gold move

Day             Gold (MCX August Futures)

Monday                  49143/10 grams

Tuesday                  49127/10 grams

Wednesday             49124/10 grams

Thursday                49198/10 grams

Friday                     48903/10 grams

Gold cheaper by about Rs 8600 from record highs

Last year, due to the COVID-19 crisis, many investors heavily put their money on gold. In August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56,191. On June 17, 2021, gold future are trading at the level of Rs 47662 per 10 grams on August futures MCX - which means that gold is cheaper by about Rs 8600 from its record highs.