Gold-silver prices were also yesterday
Gold-silver prices rose (gold prices rose) on Wednesday. Gold prices have risen by Rs 215, after which it has now reached Rs 49,059 per 10 grams (gold prices today). At the same time, silver has risen by about Rs 1,185 per kg (today’s price of silver).
Gold prices in the futures market
Speculators bought new deals following strong demand from the spot, which led to an increase of Rs 340 per 10 grams in futures trading on Thursday. 49,937. On the Multi Com Commodity Exchange, gold futures for February 2021 rose by Rs 340, or 0.69 per cent, to Rs. 49,937 per 10 grams. It trades 11,374 lots. Market analysts said gold futures prices rose on fresh buying by traders. Internationally, gold rose 1.01 per cent to 8 1,877.80 in New York.
Silver prices in the futures market
Silver futures on Thursday traded higher by Rs. 1,679 to Rs. 67,590. At the Multi Commodity Exchange, silver for delivery in March 2021 was trading at Rs. 1,679 or 2.55 per cent to Rs. Reached 67,590, with a turnover of 15,338 lots. Market analysts said the main reason for the rise in silver futures was the buying of new deals by traders due to the strong trend in the domestic market. Globally, silver in New York rose 3.3 percent to. 25.90 an ounce.
See how much gold and silver has fallen from the gold low-time high
August 7, 2020, was the day when gold and silver set a new record. Both gold and silver touched their all time highs. On August last, gold was trading at Rs. The all-time high of Rs 56,200 was touched, while silver touched Rs 77,840 per kg. Gold has declined by Rs 6,700 per 10 grams so far, while silver has declined by Rs 10,800 per kg.
Why is gold falling?
The positive news on the vaccine front to tackle the Covid-19 epidemic is leading to a decline in gold prices. Experts say investors are leaving the stock market instead of gold as the global economy recovers and tensions between the US and China ease. This is the reason why gold prices are not likely to rise sharply in the near future. However, gold is still considered a good investment option for the long term.
Will gold return to the pre-core period?
The stock market plummeted due to the Corona virus. The stock market has been steadily improving over time. Most of the world’s stock markets are recovering from the decline caused by the corona, while on the other hand, gold (today’s gold price) has returned to touch its highest touch height. The coming days are witnessing fluctuations in gold prices. Now the question arises whether gold will also return to the pre-core period, as the trend has been that if the stock market is strong then gold is weak and vice versa. So will gold still be cheap, as the Sensex was close to 41 thousand in January, when the price of gold was also close to 41 thousand.
Gold can go up to 67 thousand rupees
According to Motilal Oswal Financial Services, in the long run, the price of gold could reach Rs 65,000 to Rs 67,000 per ten grams. The demand for gold is likely to increase in the fourth quarter after a 30 per cent decline in the third quarter, as jewelery purchases will pick up during this time, the firm said in a report. The report predicts that the months following the US election will be crucial in setting gold prices and in the meantime the attitude of central banks, lower interest rates, the impact of the Kovid-19 epidemic and other concerns could affect prices. However, the prospects for bullion are good.
Gold became a boon during the Corona era
Gold is an asset to use gold in crisis, this assumption is being proved once again in the current valid global situation. In the midst of the Covid-19 epidemic and the geopolitical crisis, gold is once again setting a record and has proven to be a better investment option for investors than other assets. Analysts believe that gold will remain high for at least two and a half years. Vimal Goyal, president of the Delhi Bullion and Jewelers Welfare Association, believes that gold will remain at a high level for at least a year. He says gold is a “boon” for investors in this time of crisis. Goyal estimates that gold could rise by 10 to 15 per cent around Diwali.
Gold always shines in times of trouble!
Gold always looks bright in times of trouble. There were many wars in 1979 and gold jumped about 120 percent that year. More recently, in 2014, the U.S. threat revolved around Syria, even after gold prices skyrocketed. However, later it returned to its old standard. Gold prices also rose when US tensions with Iran escalated or when the Sino-US trade war broke out.
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