MCX Gold Silver Tips for Today – Hit Full Target Enjoy. After posting gains of over 25% in 2020, gold prices have suffered wild swings from the start of this year. After hitting a high of ₹51,800 per 10 gram last Tuesday, gold futures on MCX fell to ₹48,635 at day’s low today. On Friday, gold had tumbled ₹2,050 per 10 gram while silver had tanked ₹6,100 per kg. Last August, gold had hit a record high of ₹56,200 per 10 gram.
Gold price today jumped to Rs 52,860 from Rs 52,850, while silver price was trending at Rs 63,900 per kg, according to the MCX MONEY website.
The XAU/USD (Gold) pair started the new year on a firm footing and rose more than 2% on the first trading day of 2021. The pairpreserved its bullishmomentum during the first half of the week and touched its highest level in nearly two months at $1,959 on Wednesday.
Silver and gold prices fell sharply in Indian markets, amid a slump in global rates as higher US bond yields and a rebound in US dollar weighed on the precious metal. On MCX, February gold futures slumped ₹2050 to ₹48,818 per 10 gram on Friday while silver futures tanked ₹6,100 or 8.8% to ₹63,850 per kg.
Gold ETFs : Economic downturn due to coronavirus pandemic and weakness in the US dollar encouraged investors to infuse a whopping Rs 6,657 crore in gold exchange-traded funds in 2020.
Gold Spot Below $1852, Door Open $1780 — $1740. Gold and silver prices suffered steep losses on Friday, tracking a sharp decline in global rates. On MCX, February gold futures slumped 4% or ₹2050 to ₹48,818 per 10 gram while silver futures tanked ₹6,100 or 8.8% to ₹63,850 per kg. In global markets spot gold dropped nearly 4% to $1,833.83 per ounce as a jump in US Treasury yields hammered bullion’s safe-haven appeal.