Gold cheaper by about Rs 6700 from the highest level
In the month of May 2021, gold futures turned expensive by Rs 1500 per 10 grams. Despite the sharp rise in the prices, gold is still trading Rs 6700 cheaper from record levels attained last year in August.
In 2020, investors invested heavily in gold, which fueled the yellow metal’s rally to a record high of Rs 56191. Overall, in 2020, gold gave a return of 43%. If compared with the highest level, then gold has broken up by around 25%, as gold August futures are currently at the level of Rs 49500 per 10 grams on MCX.
MCX Silver: On Tuesday (June 1), silver closed at around Rs 72,300 with a strength of about Rs 400, but today silver futures have lost all the gains. Silver futures are seen trading with a weakness of Rs 350 per kg. Prices have slipped below Rs 72,000.