Gold a wise investment? Gold Prices and its trajectory

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Since yesterday, the Indian gold  price has fallen by 0.02%, from 47,600 rupees to 47,590 rupees. However, it is 0.65% higher than the previous week’s average of Rs 4,7284.3. It was followed by the Indian market spot gold price (47,590 rupees), although the 0.02% drop in the Indian market was smaller than the 0.18% drop in global prices.

In the global market, the price of gold fell today after rebounding in the previous trading day. Spot gold fell 0.18% to $1,893.3 per troy ounce. This price level is 8.11% higher than the average gold price ($1739.7) observed in the past 30 days.

Among other precious metals, silver prices fell today. Silver fell 0.3% to US$27.8 per troy ounce. In addition, platinum prices rebounded. The precious metal platinum rose 0.3% to $1,185.0 per troy ounce.

At the same time, in India, MCX’s gold price was Rs 48,425 per 10 grams. Also, the price of 24k gold on the Indian spot market is Rs 47,590. India’s gold price fell today, and MCX futures fell 0.28% to ₹ 48425 per 10 grams.

On the previous trading day, gold fell 0.34% or around Rs 135.6 per 10 grams. On MCX, silver fell nearly 0.42% or Rs300.0 per kilogram to a price level of Rs 71,436 per kilogram.

Today’s gold spot price (47,590 rupees) is 135.6 rupees lower than yesterday’s (47,600 rupees), and today’s world spot price also fell 3.5 US dollars to 1,893.3 US dollars. Following this trend, as of today, the future price of MCX has fallen by Rs 135.6 and is valued at Rs 48,425.

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