Gold-silver price today: Opportunity opens for investors as MCX rates down by Rs 200, silver cheaper by Rs 980

Investors planning to buy gold but looking for an opportunity should take a note of this. The investors who have been waiting for the prices of yellow metal to fall before they could buy gold have an opportunity. The MCX December Gold futures were down by almost Rs 200 around 12:15 pm. 

The Gold futures were trading around Rs 50,645 around this time down by almost 0.4 per cent from previous close on Friday. 

For those who are looking to buy silver must also know that the sliver has today fallen by almost 1.7 per cent around this. This bullion metal was trading around Rs 61,468 around this time. At this level, the silver has seen a price correction of Rs 980 in the intraday trade.   

The market experts opine that the current buying on dips can dive good returns on gold and silver in the coming days. 

On Friday, the Gold Future prices ended the day at a marginally higher price at Rs 50,839 per 10 gm. Meanwhile, the silver futures ended slightly below the previous closing price at Rs 61,462. The price of silver was up by Rs 823 over the previous five trading sessions.  

How to buy gold at cheaper price: 

The Sovereign Gold Bond (SGB) Series VIII will give opportunity to buyers to buy at low prices. The Reserve Bank of India (RBI) will open the subscription between 9-13 November 2020.  

SGBs are government securities denominated in grams of gold and are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of Government of India.  

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The payment for the Bonds will be through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking. The issue price of the Gold Bonds will be Rs 50 per gram less for those who subscribe online and pay through digital mode.