Gold price today at Multi Commodity Exchange (MCX) opened with the positive gap making an intraday high of ₹47,046 per 10 gm. According to the commodity experts, there can be some fresh correction in the precious bullion metal and it may go down up to ₹46,500 to ₹45,500 levels.
gold price outlook
Gold Price Today: Should you Buy the Gold at Current Levels?
Gold price today at Multi Commodity Exchange (MCX) opened ₹5 lower at ₹47,314 per 10 gm levels. However, commodity experts are of the view that the gold price has ‘bottomed out’ and one should look at every dip as buying opportunity in the precious yellow metal.
Gold Prices in India Move into Discount for First Time This Year
Physical gold prices in India moved to a discount over official domestic rates for the first time this as covid-related restrictions impacted retail demand. Dealers were offering a discount of up to $2 an ounce this week over official domestic prices, Reuters reported, as compared to previous week’s premium of $2.
Why are Yellow Metal Prices Very High? – Gold Silver Reports
Gold (Yellow Metal), once mocked for its lack of yield and practical use, offers something the growing pile of negative-yielding bonds doesn’t – inflation protection. Plus, it makes a great doorstop.
Gold Prices Today Fell Sharply in India – Gold Silver Reports
Gold Silver Reports (GSR) – Gold prices today fell sharply in India, mirroring a big decline in global prices. On MCX, gold futures for August delivery fell below the ₹34,000 per 10 gram, when they declined 1.2% to ₹33,810. The October gold contracts on MCX also fell sharply but managed to hold on to ₹34,000 level.
Why Gold Prices Are Rising
Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the US economy may tumble back into recession.