Gold and silver prices fell for the second consecutive day in the bullion market today. According to the website of India Bullion and Jewelers Association (IBJA), gold has come down by Rs 261 to Rs 47,294 per 10 grams in the bullion market on Thursday. Talking about the futures market, the yellow metal is trading at Rs 47,107 with a fall of Rs 72 on MCX at 3.30 pm. Earlier on Wednesday also, gold became cheaper by Rs 99 in the bullion market.
Talking about silver, today it has become cheaper by Rs 108 in the bullion market and has come down to Rs 63,306 per kg. On MCX, it is trading at Rs 63,002 with a fall of Rs 270 at 3.30 pm.
In the bullion market, the yellow metal was at Rs 48,105 on August 1, which has now come down to Rs 47,294 per 10 grams. That is, gold has become cheaper by Rs 811 so far in this month. On the other hand, when it comes to silver, it has become cheaper by Rs 4,630 and has come down to Rs 63,306 per kg.
The luster of gold and silver has also decreased in the international market. Gold has come down to the US $ 1,784 an ounce. On August 23, it had exited above $1,805. Silver is also trading at $24 an ounce.
Ajay Kedia, director of Kedia Commodities, says that yellow metal has seen a slight decline due to the strengthening of the dollar against the rupee. But due to the third wave of Corona, gold can become expensive again in the coming days. By the end of this year, it can go up to Rs 50,000.
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