Gold Price Today, 9 July 2021: Gold cheaper by Rs 8,300 from record highs, perfect time to invest?

New Delhi: Gold futures for the month of September opened with a gain of around Rs 150 per on Friday (July 9). At present, gold futures on Multi Commodity Exchange are trading at around Rs 47856 per 10 grams. However, gold is still trading cheaper from last month when the yellow metal was trading at around Rs 49,000 per 10 grams. With gold selling cheaper by thousands of rupees, it could be a perfect time for investors to inject some gold into their portfolios.

Day             Gold (MCX August Futures)

Monday             Rs 47299/10 grams

Tuesday             Rs 47684/10 grams

Wednesday        Rs 47910/10 grams 

Thursday            Rs 47721/10 grams 

Friday                Rs 47856/10 grams (Currently trading)

Last week's gold movement (June 28 - July 2)

Day             Gold (MCX August Futures)

Monday             Rs 47008/10 grams

Tuesday             Rs 46555/10 grams

Wednesday        Rs 46839/10 grams

Thursday            Rs 47039/10 grams

Friday                 Rs 47285/10 grams

Gold trading cheaper by around Rs 8300 from record levels

Last year, the stock market crashed amid fears of an economic downturn. As a result, investors heavily invested in precious metals such as gold, which led to a rise in the prices of yellow metal to record highs. 

In August 2020, gold prices touched their highest level of Rs 56,191. However, gold prices are currently trading at around Rs 47856 per 10 grams, which means that the precious metal is selling at around Rs 8330 cheaper from record highs. Also Read: WhatsApp new feature: Users will be able to share messages with large link previews 

In 2020, gold gave a whopping 43% return to investors. Investors are also expected to get impressive returns in 2021 as well. Also Read: 7th Pay Commission: Central govt takes 5 big decisions before DA hike restoration, check details