Great time to buy gold, prices down by over Rs 8,000 since August

New Delhi: For those looking to buy gold and silver at great prices, this is perhaps a great time to do so. Though Gold prices rose marginally on Thursday, the prices of the yellow metal are over Rs 8,000 lower than the rates as compared to August.

On August 7, Gold price saw a record 16th straight session an all-time high of Rs 57,008 per 10 grams in the national capital. Silver too continued its upward movement, with the price touching a record-high of Rs 77,840 per kilogram. 

Meanwhile, Gold prices on Thursday rose marginally by Rs 17 to Rs 48,257 per 10 gram in the national capital on Thursday. In the previous trade, the precious metal had closed at Rs 48,240 per 10 gram.

Silver prices also gained Rs 28 to Rs 59,513 per kilogram from Rs 59,485 per kilogram in the previous trade.

In the international market, gold was trading with gains at USD 1,815 per ounce, while silver was quoting flat at USD 23.42 per ounce. 

In future trade, gold prices rose Rs 227 to Rs 48,740 per 10 gram in futures trade on Thursday as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 227, or 0.47 per cent, at Rs 48,740 per 10 gram in a business turnover of 3,003 lots.