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Gold prices fall sharply today, record ₹8700 drop from highs, silver rates rise

By Ruchi Upadhyay 
Updated Date

New Delhi: Gold, Silver Rate Update, 27 August 2021: Gold and silver are open today with good strength. However, gold is moving in a circle only. Gold futures are slipping up to 47600. Silver prices have returned to strength. After slipping from the level of 63,000, it has recovered again.

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October futures of gold on MCX closed almost flat on Thursday after a lot of volatility. Although gold futures started with sluggishness, but in intraday it rose to Rs 47380 and slipped to Rs 46934 below 47,000. In the end, it became flat and closed at Rs 47237 per 10 grams. Talking about this whole week, gold futures are only on the strength of Rs 150. Gold futures are seen trading today with a strength of Rs 250.

Gold moves this week (23-27 August)
Day Gold (MCX October Futures)
Monday 47584/10 grams
Tuesday 47612/10 grams
Wednesday 47179/10 grams
Thursday 47237/10 grams
Friday 47400/10 grams (Trading on)

Last week’s gold move (August 16-20)
Day Gold (MCX October Futures)
Monday 47225/10 grams
Tuesday 47280/10 grams
Wednesday 47132/10 grams
Thursday 47169/10 grams
Friday 47158/10 grams

Gold move two weeks ago (August 09-13)
Day Gold (MCX October Futures)
Monday 45886/10 grams
Tuesday 45962/10 grams
Wednesday 46388/10 grams
Thursday 46363/10 grams
Friday 46940/10 grams

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Gold cheaper by about Rs 8800 from the highest level

Last year, due to the Corona crisis, people had invested heavily in gold, in August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Now gold October futures are at the level of Rs 47400 per 10 grams on MCX, that is, it is still getting cheaper by about Rs 9100.

Silver moves on MCX

Now talk of silver, silver September futures closed weak on Thursday by Rs 550 per kg. Silver futures have once again slipped below Rs 63,000. Silver futures had slipped up to Rs 62397 in intraday, although recovery was seen later and closed at Rs 62723.
However, today silver futures have made a strong start. At present, it is trading above Rs 63,000 once again with a strength of around Rs 300.

Silver move this week
Day Silver (MCX Sept – Futures)
Monday 62927/kg
Tuesday 63474/kg
Wednesday 63272/kg
Thursday 62723/kg
Friday 63000/kg (Trading on)

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Silver move last week
Day Silver (MCX Sept – Futures)
Monday 63457/kg
Tuesday 63226/kg
Wednesday 62483/kg
Thursday 62133/kg
Friday 61721/kg

silver trick two weeks ago
Day Silver (MCX Sept – Futures)
Monday 62637/kg
Tuesday 62636/kg
Wednesday 62771/kg
Thursday 61860/kg
Friday 63238/kg

Silver cheaper by Rs 17000 from its all-time high

The highest level ever of silver is Rs 79,980 per kg. Accordingly, silver is also cheaper by about Rs 17000 from its highest level. Today, July futures of silver are at Rs 63000 per kg.

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