Gold Price Today, 12 August 2021: Gold still cheaper by over Rs 9,800 from record highs

So far in the year, gold prices have crashed by more than Rs 4,000 thus making the yellow metal still a lucrative instrument for investment.

New Delhi: Gold prices on Thursday opened at Rs 46,300 per 10 grams in the futures trade on the Multi Commodity Exchange. Gold contracts for the October delivery closed at Rs 46,388. So far in the year, gold prices have crashed by more than Rs 4,000 thus making the yellow metal still a lucrative instrument for investment. Gold still cheaper by nearly Rs 9,800 from record highs 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. Last year, gold gave a return of 43%. If compared to the highest level, gold has declined by 25 percent. At late morning trade, gold was at the level of Rs 46,380 per 10 grams on MCX, which is still cheaper by Rs 9,820.