Gold slides marginally, but prices still Rs 9200 lower
17/04/2021
NEW DELHI, apr 16: Gold, Silver Rate Update, 16 April 2021: Prices of gold and silver are seemingly increasing at a fast pace. On the Multi Commodity Exchange of India Limited (MCX), gold has breached the Rs 47000 mark while silver is trading at above Rs 68000. Gold and silver have recently also become dearer in the bullion market in the ongoing week. But today they are trading in the red zone.
MCX Gold: The yellow metal’s prices increased as much as Rs 560 per 10 gram to 47175 yesterday. Today, gold has fallen by over Rs 100 but is still trading at levels above Rs 4700. In this week, gold prices have overall increased by Rs 650.
Gold is trading Rs 9200 lower than its all-time high achieved last year when investors turned to safer investment at a time public markets crashed due to Covid-19 fears. Gold hit an all-time high of Rs 56191 in 2020, and gave an impressive 43% returns to investors. MCX Silver: Much like Gold, Silver also performed very well during the last hours of yesterday’s trade. The May contract displayed an impressive performance to close at Rs 68500 per Kg. Silver prices reached as high as Rs 68785 per Kg yesterday. But today, the May contract priced took a slight hit, as the silver prices fell by Rs 150 and were trading at around Rs 68400 per kg. Silver is still trading Rs 11580 lower than its all-time high at around Rs 66,100 per Kg.
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