On April 23, the price of ten grams of gold in the morning was Rs 47615. Which came to Rs 46,743 on 30 April. Similarly, the price of silver in the morning of 23 April was 69075 rupees.
Gold Silver Price
In the Corona epidemic, the price of gold and silver continues to fluctuate. But in the last one week in the wedding season, there has been a huge fall in the price of gold and silver. On the weekly basis, the price of gold has fallen by Rs 1015 in the bullion market. During this time, the price of silver has been seen to fall by Rs 1352. However, if you talk about the whole month of April, then gold has become expensive by 2600 rupees in the whole month. At the same time, a jump of about 4900 rupees has been recorded in the price of silver.
On April 23, the price of ten grams of gold in the morning was Rs 47615. Which came to Rs 46,743 on 30 April. Similarly, the price of silver was 69075 rupees in the morning on 23 April and two fell to Rs 68350 per kg on 30 April.
Why is there a phase of fluctuations in gold
This month, the price of gold in the Indian market has increased by more than 4 thousand rupees. Gold is supported by the recovery in the global market. Earlier this month, gold rose sharply to near the 44,000 level in US bond yields, shocking the sep-haven asset. But weakness in US bond yields coupled with softening of the US dollar led to a rise in gold prices in international markets.
9000 rupees cheaper than record highs
Even though the price of gold has seen a slight upward trend, it is still about Rs 9000 less than its record high. Actually, the first web of Corona set a new record in gold prices. In August last year, gold prices went up to 56000 levels, which has now come down from 47 to 48000 rupees per ten grams.
Increased demand for jewelery
According to a recent report by the World Gold Council, the total demand for gold jewelery rose by 39 percent to 102.5 tonnes during January-March 2020. It was 73.9 tonnes a year ago. If we talk about the price, the demand for jewelery has increased by 58 percent to Rs 43,100 crore as compared to Rs 27,230 crore last year.
Investment in gold increased by 34 percent
During this period, investment demand in gold increased by 34 percent to 37.5 tonnes as compared to 28.1 tonnes last year. On the other hand, in terms of value, it increased by 53 percent to Rs 15,780 crore as compared to a year ago, which was Rs 10,350 crore last year.
read this also: Reliance is distributing 1000 tons of oxygen daily for free, Mukesh Ambani himself is monitoring this mission
read this also: 19 kg gas cylinder becomes cheaper by Rs 45.5, 14 kg price not reduced, learn new price