Categories: Business

gold fall Rs 271 per 10 gram silver down Rs 512 per Kg

Photo: FILE

gold silver price today

new Delhi. Gold fell by Rs 271 to close at Rs 49,729 per 10 grams at the Delhi Bullion Market on Friday as the rupee strengthened against the dollar. On Wednesday, gold had reached Rs 50,000 per 10 grams. Silver also lost Rs 512 to Rs 53,582 per kg. Its closing price was Rs 53,894 on Thursday. On Friday, the rupee strengthened by 16 paise to close at 75.02 against the US currency. The main reason for this rise was the bullish trend in the stock market and the weakening of the US currency. In the international market, gold was quoted at $ 1,801.5 an ounce, while silver remained almost unchanged at $ 19.08 an ounce.

With the rise of the Corona crisis, there is a steady rise in gold prices. In fact, due to economic uncertainty, investors are opting for safe investment options like gold, keeping away from investment options like equity and property, due to which there is a sharp jump in investment demand for gold. On the other hand, there remains a decline in demand for solid gold. So far this year, the price of gold in domestic markets has gone up by 25 percent. At the beginning of 2020, gold was at below 40 thousand level, currently prices are close to the level of 50 thousand rupees per 10 grams. Experts estimate that due to the uncertainty about the Corona crisis, gold may see further rise and gold may cross the level of Rs 52 thousand by Diwali. In the overseas market, gold is estimated to reach $ 2000 an ounce level.

This post was published on July 17, 2020 10:45 pm

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