Gold Price Today, 22 July 2021: Gold loses sheen, selling cheaper by Rs 8750 from record highs

In the ongoing week, August gold futures are selling cheaper by Rs 650, offering a wonderful opportunity for investors planning to put their money on the yellow metal.

New Delhi: Gold prices have been falling in the past few weeks amid low demand in domestic and international markets. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by Rs 125 per 10 grams on Thursday (July 22). Gold futures are currently trading at Rs 47450 per 10 grams. 

In the ongoing week, August gold futures are selling cheaper by Rs 650, offering a wonderful opportunity for investors planning to invest in the yellow metal, as experts are hoping for a recovery in the coming weeks.  

Day         Gold (MCX August Futures)

Monday         Rs 48094/10 grams

Tuesday         Rs 47876/10 grams

Wednesday     Rs 47573/10 grams

Thursday         Rs 47450/10 grams (Currently trading)

Last week's gold movement (July 12-16)

Day         Gold (MCX August Futures)

Monday           Rs 47774/10 grams

Tuesday           Rs 47889/10 grams

Wednesday      Rs 48299/10 grams

Thursday         Rs 48400/10 grams

Friday             Rs 48053/10 grams

Gold trading cheaper by about Rs 8750 from record highs

Last year, due to the COVID-19 led economic crisis, investors had invested heavily in gold. In August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56,191. However, with gold currently trading at Rs 47450 per 10 grams, the yellow metal is surely cheaper by about Rs 8750 from the record highs.

MCX Silver: September futures of silver have also dropped continuously in the ongoing week. Till last week silver futures were trading above Rs 68,000 per KG. However, silver futures have slipped below Rs 67,000. Also Read: Sensex rallies 639 points; Nifty tops 15,800

At present, silver futures are trading with a fall of more than Rs 100 per kg, but the prices are still holding above Rs 67,000. Silver futures have dropped by Rs 2600 in the last week. Also Read: Amazon Alexa’s male counterpart Ziggy is here! Check how to switch voices on Echo speakers