lowest gold rate in indian city lowest price in 6 years

New Delhi, 2 January 2022:  If you want to buy gold in the new year, then there is very good news for you. The price of gold has reached the lowest level in the last 6 years. Gold has become cheap once again. In such a situation, if you want to buy gold, then there is good news for you because you will get the benefit of this fall in the price of gold because the price of gold is expected to return in the coming days.

On the last day of the last week of the year 2021, on the Multi Commodity Exchange (MCX) on Friday, the price of gold rose by about Rs 198 and it closed at 48,083 per 10 grams, but this increase was the highest in six years. This was not enough to offset the huge fall, as the yellow metal had fallen by over 4 per cent in 2021. Gold price on MCX today is at Rs 48,000 per 10 grams, which is about 8,000 cheaper than the all-time high of 56,200 per 10 grams.

Gold became cheaper by Rs 8000 from an all-time high

According to commodity market experts, the price of gold today is around Rs 8,000 lower than its all-time high and the precious bullion metal has been able to attract buyers every time it falls below the $1800 level. Therefore, during the last fortnight also, there has been a sharp jump in gold prices after profit-booking between $1820 and $1835. He said that currently the outlook for gold prices is dictated by the spot market and the recent pattern indicates a 'sideways trend with positive bias'.

Gold will be cheaper in the coming three months

Experts advised gold investors to keep 'buying on dips', as gold can go from $ 1880 to $ 1900 an ounce level in the next 3 months in the international market. Gold experts said that the yellow metal has got strong support at the level of $ 1760 an ounce and this support is intact for about a month. Hence, one should keep an eye on the broad range of $1760 to $1835 per ounce and follow the dips buying strategy.

Gold price on MCX today is Rs. 48,000

According to media reports, the gold price is above Rs 48,000 per 10 grams on MCX today and it is getting strong support at Rs 47,500 level. He said Rs 47,800 to Rs 47,900 is a good buying range for short-term investors as the yellow metal may soon go up to Rs 49,300 to Rs 49,500 per 10 grams against the US Dollar.