Gold Silver Price : Decline in the futures price of gold and silver, know how much was the price
Gold and silver futures fell in the domestic market on Tuesday after a jump in the previous session. On MCX, gold futures fell 0.19 percent to Rs 47,495 per 10 grams. Talking about silver, it fell 0.2 percent to Rs 62798 per kg. The yellow metal is still down by Rs 8705 from last year's high (Rs 56,200 per 10 grams). In the previous session, gold had gained 0.9 percent and silver had gained nearly two percent.
So much is the price in the global market
In global markets, spot gold prices fell 0.2 percent to USD 1,801.78 an ounce today. The dollar index was trading at 93.043 today after falling 0.6 percent on Monday. Silver fell 0.5 percent to $23.54 an ounce. Data from IHS Markit showed US trade activity growth slowed for the third straight month in August as capacity constraints, supply constraints and a rapidly expanding delta variant weakened the momentum of a rebound from last year's pandemic-induced slowdown. Gave.
Gold ETFs are based on the price of gold
The holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund or gold ETF, fell 0.5 percent to 1,006.66 tonnes on Monday from 1,011.61 tonnes on Friday. Gold ETFs are based on the price of gold. The price of the yellow metal fluctuates only on the fluctuations in its price. It should be noted that ETF inflows reflect weak investor interest in gold. A stronger dollar makes gold more expensive for holders of other currencies.
Investors Withdrew Rs 61 Crore From Gold ETFs In July
Investors withdrew over Rs 61 crore from gold ETFs in July. Whereas earlier, gold was being invested in ETFs for seven consecutive months. During this period, investor interest in equities and debt funds has increased due to attractive returns. According to the Association of Mutual Funds in India (Amfi), the number of folios increased to 19.13 lakh in July despite negative inflows in this category. Investments in ETFs have steadily increased since August 2019, with the exception of February 2020, December 2020, and July 2021.