Gold Price Today, 19 May 2021: Gold prices still cheaper by Rs 8,100 from record levels

New Delhi: Gold prices seem to be easing now. On Wednesday too the prices of the yellow metal were trading in the red in the Multi Commodity Exchange (MCX). Silver futures for July delivery was trading in the negative zone.

Silver July futures closed flat yesterday after witnessing good momentum throughout the day. But today there is a tremendous decline. Silver futures on MCX are trading around Rs 72800 level. Gold on MCX opened at Rs 48300 as against Rs 48261 per 10 grams while Silver on MCX opened at Rs 72630 as against Rs 73196 per kg.

Gold in the national capital on Tuesday rose by Rs 333 to Rs 47,833 per 10 gram in line with a rally in the global precious metal. In the previous trade, the precious metal had closed at Rs 47,500 per 10 gram. Silver also witnessed increased demand as it jumped Rs 2,021 to Rs 73,122 per kilogram from Rs 71,101 per kilogram in the previous trade.

Gold still cheaper by Rs 8100 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 48370 per 10 grams on MCX, is still getting Rs 8100 cheaper.