Due to the interest of investors in gold, it was continuously running at its high. However, it saw a drop in its prices on Tuesday. The price of silver has also decreased.
Today’s Gold and Silver Price
There was a continuous increase in the price of gold for some time. It had reached its highest level. Soon it was going to cross the figure of 50 thousand as well, but on Tuesday, the fall in the price of gold was seen. Today it dropped by Rs 128 to reach the level of Rs 48,425 (Gold price today). At around 10.40 in the morning, it was trading down by Rs 111 to trade at Rs 48,442. In the previous session, gold had closed at the level of Rs 48,553 per 10 grams.
Apart from gold, silver also saw a decline today. Silver for July delivery was trading down by Rs 470 to trade at Rs 71,341 per kg. Silver fell by Rs 269 to Rs 70,810 per kg, compared to Rs 71,079 per kg in previous trade.
According to HDFC Securities, gold on Tuesday fell by Rs 102 to Rs 48,025 per 10 grams in the national capital amid strengthening rupee. In previous trade, the precious metal had closed at Rs 48,127 per 10 grams.
Tapan Patel, Senior Analyst (Commodities), HDFC Securities, says, “The Indian rupee closed 13 paise higher at 72.83 against the US dollar in early trade on Tuesday. Due to which there was a drop in the price of gold.
It is known that in the international market, gold was trading at $ 1,882.50 an ounce, while silver was flat at $ 27.67 an ounce.
Analysts at Motilal Oswal say that due to rising cases of corona, continued liquidity measures, rising inflation, economic growth on debt, tensions in the Middle East, trade war between the US and China and many other reasons for gold. Constant positive perception has been formed. With this, there is every possibility of further rise in the prices of gold. This is the reason that experts are constantly advising to invest in gold.
Get exemption from Sovereign Gold Bond
There is a good chance for those who buy gold. They can get a discount on investment in Sovereign Gold Bond. It is being sold by the government, which will be till May 28. The issue price of the second series is Rs 4,842 per gram. The first series of Sovereign Gold Bond 2021-22 opened on 17 May and closed on 21 May. Its subscription price was fixed at Rs 47,770 per 10 grams.
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