look news india
Gold price today: Gold prices saw a soft trend in the local market today. On Saturday, the price of gold in Ahmedabad was reduced by Rs. 500 to Rs. 75000 per 10 grams. On the other hand, silver increased by Rs. 1000 to Rs. 93000 per kg. The price of gold has fallen temporarily. But according to experts, there is a possibility of a bullish trend in the precious metal market again in the near future.
Precious Metal Futures on MCX in the morning session, MCX Gold August futures opened at Rs 73,038 per 10 gram at the start of the session, touched a high of Rs 73,038 and a low of Rs 72,892 during the day, closed down by Rs 55 at Rs 72,996. As against this, Gold-Guinea July contract fell by Rs 8 135 per gram to Rs 58,726 and Gold-Petal July contract fell by Rs 14 to Rs 7,187 per gram. Gold-Mini August futures fell by Rs 50 to Rs 72,960 per 10 gram. During the evening session, the price of gold on MCX fell by Rs 286 to Rs 72765 per 10 gram.
In silver futures, silver opened at Rs 93,295 per kg at the start of the September session, touched a high of Rs 93,438 and a low of Rs 93,180 during the day, and was trading down by Rs 139 at Rs 93,415. Silver-mini August contract fell by Rs 135 to Rs 93,340 and silver-micro August contract fell by Rs 138 to Rs 93,340. Silver finally rose by Rs 26 to Rs 93580 per kg on MCX.
Profit booking globally too
Profit booking was seen by investors today after gold prices hit a two-week high last week. Commodity experts said that among the positive factors, investors are willing to buy at lower prices, so they are planning to reinvest in the improving environment after profit booking. Globally, spot gold was trading 0.8 per cent lower at $2371.70 an ounce. Silver also fell 1.18 per cent to $31.31 an ounce.