On Wednesday, gold prices are going up in the opening trade on Multi Commodity Exchange on Thursday after being cheaper by Rs 717 in bullion market. At 11.30 am, gold futures are seen rising by Rs 176 on MCX. While silver futures are registering a gain of 88 rupees. Gold is seen trading at Rs 46379 per ten gram with a gain of Rs 176, while the price of one kilogram of silver remains at Rs 69183.
Apart from the Multi Commodity Exchange, on the bullion market, gold was cheaper by Rs 717 on Wednesday. With the fall, gold closed at Rs 46,102 per 10 grams. According to HDFC Securities, gold had closed at Rs 46,819 per 10 grams on Tuesday.
Fall in silver also
Along with gold, on Wednesday, silver prices also recorded a big fall of Rs 1,274. With this decline, the price of 1 kg of silver was Rs 68,239. Earlier, silver had reached Rs 69,513 per kg in Tuesday's trading session. Experts are assuming that the price of gold and silver can be seen further fluctuations.
9500 rupees cheaper than upper level
In August, the price of gold crossed the level of 56000 rupees. In that sense, around 9500 has become cheaper. At the same time, it reached the level of 78000 when it came to silver. In that sense, it has dropped by 10 thousand rupees. Let us know that in Budget 2021, Nirmala Sitharaman reduced the import duty on gold and silver from 12.50 to 7.5 percent. However, a cess of 2.5 per cent (like Separate Tax) was imposed on it. In this way, the customers have benefited from the net 2.5 percent. After this announcement, there was a steady decline in the price of gold.
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