Gold price today 02-12-2020: The rates of precious metals like gold and silver saw an uptick on Wednesday. The MCX Gold futures were trading around Rs 48,486 per 10 gm at around 10:30 am, up by Rs 211. Meanwhile the MCX Silver Futures were trading around Rs 62,200 pe kg, seeing an increase of Rs 282. 

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Price of Bullion in Delhi 

On Tuesday, the price of Gold in Delhi’s Sarafa Bazaar was Rs 48,273 per 10 gm, which was up by Rs 45. On Monday the price of Gold was at Rs 48,228. This information has been sourced from HDFC Securities. The prices were also up in Silver on Tuesday. The metal ended the day at Rs 59,380 per kg which was up by Rs 407. On Monday the silver spot price was Rs 58,973. 

Investment in Gold takes a plunge:  

The hopes around the coronavirus vaccine have raised hopes for the economy and are aiding the stock markets. This is one of the reasons why, global stock markets are on a high. As a result, gold investors are are getting diverted to the equity markets.  

Gold has been seeing a continuous fall. On Monday, the prices of gold fell to a five-month low. Gold is trading at its cheapest level since July. The prices are expected to fall further creating opportunities for people to buy gold at lower levels.  However, on Tuesday it showed a rise.

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Gold trading at a 5-month low level: 

Gold which is considered as a haven for investors has lost a lot of its sheen of late. The yellow metal is trading at a level which is a 5-month low. This has also had an impact on investors sentiments and put them away from buying gold or silver.