The spot price of gold-silver saw a slight sluggishness in December. In the last week (December 18-24), gold prices have declined by just Rs 113 per 10 grams. Gold closed at Rs 49,995 in the bullion market on Thursday and was at Rs 50,194 on December 18. If the highest price of gold is compared to Rs. 1025 per Rs. 25 56૨44, so far it has been Rs. Cheaper by 25૨99. At the same time, if you talk about silver, it has become cheaper by Rs 83 per kg. Silver closed at Rs 66,431 on Thursday. In the current year, silver has gone up by Rs. Reached the peak of 76008. Since then, it has become cheaper by up to Rs 9577 per kg.
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The record was set in August
The gold spot opened at 56254 on August 7, 2020 in bullion markets across the country. It was the highest. After this, after a slight reduction that evening, it was reduced to Rs. Closed at the level of 56126. As far as silver is concerned, it opened at Rs 76,008 per kg on this day and closed at Rs 75013. Silver price on MCX touched a record high of Rs. 73,600 per kg, while the spot market price of silver in 2011 was Rs. Reached 77,000. On March 16, 2020, the price of gold was Rs 38,400 per 10 grams.
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Fluctuations may continue
Navneet Damani, vice-president, commodity research, Motilal Oswal Financial Services, said the trend is likely to continue. Ajay Kedia, director and head of research at Kedia Capital, says gold was around Rs 9,000 per ten grams in 2007, up from Rs 31,000 per ten grams in 2016. That is, more than tripling in nine years. When interest rates fall, investment in gold increases. If the dollar rises, gold prices will rise faster in the long run. That is, gold could reach Rs 60,000 to Rs 70,000 per ten grams by next year.
The movement of gold and silver from 14 to 24 December was like this
|Date and day||Morning rate of gold (Rs / 10 gm)||Evening rate of gold (Rs / 10 gm)||Morning silver rate (rupee / kg)||
Evening rate of silver (Rupees / kg)
|24 December 2020 (Thursday)||50043||Is 49995||Held at 66340||66431|
|23 December 2020 (Wednesday)||49940||Is 49851||Is 65576||Is 65735|
|22 December 2020 (Tuesday)||50210||Is 50139||Held at 67353||Is 67114|
|21 December 2020 (Monday)||Is 50775||Is 50308||Held at 69785||67192|
|18 December 2020 (Friday)||Is 50194||Is 50108||66526||66519|
|17 December 2020 (Thursday)||49812||Is 50007||Held at 66191||Held at 66469|
|16 December 2020 (Wednesday)||Is 49526||49770||Held at 64265||Is 65543|
|15 December 2020 (Tuesday)||49230||Is 49296||62913||Is 63170|
|14 December 2020 (Monday)||49040||Is 48859||62324||Is 62600|