Today the gold price has declined on MCX.
Gold Rate Today: After the fall in the global market, the price of gold also fell on MCX on Friday. Not only gold, but silver prices have also come down. Experts say that at the moment the upsurge in the market will continue.
- January 8, 2021, 11:46 AM IST
Gold also rolled in the global market
In the global market, gold prices showed only a slight decline. This sluggishness has been seen in the price of gold due to the strengthening of the US dollar and the rise in bond yields. However, the Biden administration Dravara managed to save from a major fall in gold prices due to rising hopes of another relief package. Spot gold fell 0.1 per cent to $ 1,911.32 an ounce. However, based on the last one week, it has seen a rise of 0.7 percent.
Also read: How to show cryptocurrency earnings in your ITR? Know hereGold ETFs are still seeing a period of slack. The total holding of the world’s largest exchange-traded fund, ETF, SPDR Gold Trust, has come down by 0.4 per cent to 1,182.11 tonnes.
Talking about the price of silver in addition to gold, it has seen a decline of 0.2 percent, after which it has come down to $ 27.05 an ounce. Silver prices will be supported by better outlook on industrial demand.
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Experts say that the news of the Kovid vaccine will be heavy on the relief package. In such a situation, there will still be trouble in the market.
On Thursday, the price of gold in Delhi Bullion market has decreased by Rs 714. After this, the new gold price came to Rs 50,335 per 10 grams here. There was also a fall in the price of silver. On Thursday, silver has become cheaper by Rs 386 per kg and comes to Rs 69,708.