Gold and silver prices fell today in Indian markets. October gold futures on MCX fell 0.65 per cent to Rs 52596 per 10 grams. While silver futures for September fell by one per cent to Rs 70,345 per kg. Gold prices are volatile since last week’s record high of 56,000. In the previous session, gold had increased by one per cent, while silver had increased by about six per cent. So far this week, gold has become cheaper by more than Rs 2,000 per 10 grams.
Price in global markets
In global markets, gold prices today were flat at $ 1,952 an ounce. Gold has become cheaper by four percent so far this week. Investors registered gains after Russia approved the corona virus vaccine on Tuesday.
Gold was supported by a weaker dollar, which fell for the third consecutive season against its rivals. That is, gold became cheaper for holders of other currencies.
The holding of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund (ETF), rose 0.1 per cent to 1,252.09 tonnes on Thursday. Meanwhile, Billionaire Ray Dalio’s hedge fund Bridgwater Associates increased its investment in gold-backed exchange-traded funds or gold ETFs by a third in the second quarter.
Bridgewater bought 1.4 million shares in the SPDR Gold Shares ETF. According to regulatory filings, this is equivalent to about 130,000 ounces of gold in the April-June quarter.
