Gold price today, 19 June 2021: Price below Rs 47,000, right time to invest in yellow metal?

Factors haunting gold prices are Federal Reserve's decision on interest rates, weak consumer sentiment in the country and US Dollar’s rise against other currencies. 

New Delhi: August Gold futures on the Multi Commodity Exchange (MCX) fell by over Rs 2000 per 10 gram in the last two trading days - Thursday (June 17) and Friday (June 18). At present, 10-gram gold is priced at Rs 46,800 on MCX. The major factor behind the slump is the US Federal Reserve’s recent decision signalling that an interest rate hike is on the cards of the USA’s central banking system. Other factors haunting gold prices are weak consumer sentiment in the country and US Dollar’s rise against other currencies.  In the ongoing week, per 10-gram gold prices on MCX have fallen by over Rs 2000, the worst crash in 2021. For investors, this could be a golden opportunity to put their money on gold.