Gold costs on Saturday January 15, reached Rs 48,980, falling Rs 120 from Friday’s buying worth of Rs 49,100. Silver costs nonetheless rose by Rs 200, reaching Rs 62,200 per kg.
However, gold value immediately at MCX remains to be round Rs 8,400 beneath its lifetime excessive of round Rs 56,200 per 10 gm. According to consultants, MCX gold charge has been on the draw back for final one and half years after reaching its life time excessive in August 2020.
Spot gold value is buying and selling within the vary of $1780 to $1835 per ounce and it could go as much as $1900 to $1910 per ounce ranges as soon as it breaks the present hurdle at $1835 ranges. They mentioned that rising crude oil value within the world market is predicted to additional gas world inflation resulting in weak spot within the main world and native currencies, which is able to push gold value additional northward.
As per the up to date information from MCX, gold futures, set to mature on February 4 this yr, rose by 0.18 p.c to Rs 47,820.00. Silver futures, that are as a result of mature on March 6 this yr, fell by 0.44 p.c to Rs 61,645.00.