Gold Price Today, 17 May 2021: Strong upswing in gold prices, yellow metal crosses Rs 48,000

New Delhi: On the first trading day of the week, gold and silver prices started on a strong note. Gold and silver are trading strongly with a rise of one and a half percent. In the bullion market, there is an increase in the prices of gold and silver.

Gold in the national capital on Monday rose by Rs 348 to Rs 47,547 per 10 gram following a strong global trend. In the previous trade, the precious metal had closed at Rs 47,199 per 10 gram. Silver also zoomed Rs 936 to Rs 71,310 per kilogram from Rs 70,374 per kilogram in the previous trade.

In the international market, gold was trading with gains at USD 1,853 per ounce and silver was trading flat at USD 27.70 per ounce.

Gold still cheaper by Rs 8160 than its record 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%. As compared to the highest level, gold has declined by 25 percent. Gold at the level of Rs 48400 per 10 grams on MCX, is still getting Rs 8160 cheaper.