Gold price update: What happened to gold and silver this week, find out how much the price is left

 Gold price update: What happened to gold and silver this week, find out how much the price is left

Rate of Gold and Silver sink this week. On Friday, the last trading day of the week, gold and silver costs  continued to decline in the Delhi bullion market. On Friday, gold sink by Rs 102 to Rs 48,594 per 10 grams. Silver even declined marginally by Rs 16 to close at Rs 62,734 per kg. In the bullion markets, gold prices sink by Rs 270 per 10 grams between December 7 and 11. while the period, silver declined by Rs 832 per kg.

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2. Silver Price Live: This App give Today Silver Price to user. Which is right basis on the source. So you can check from here your daily Silver price in the India. Which is known as the  “Aaj ka Chandi bhav”.

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Gold has been an ideal investment for centuries because of  its ever increasing value, instant security for loans, asset for financial crisis management. There is an improving number of gold investors in the recent years because of  its reliability in value compared to other types of investments. Gold has tripled its value over the past 5 years, a big gain for all long term investors. The price of gold is always going to be on an upward trend because of  a variety of reasons; which contains decreased production, scarcity of natural resources, improved demand due to increased buyers and turning of gold as an investment compared to as a metal for jewelry production.

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latest rate of gold and silver

Gold price update: What happened to gold and silver this week, explore out how much the price is left...

As far as futures prices are worried , gold for February delivery rose by Rs 213 to close at Rs 49,290 on Friday. It closed at Rs 49,077 on Thursday and opened at Rs 49,150 on Friday. same , gold for April delivery rose by Rs 177 to close at Rs 49,330. Silver for delivery in March even  rose by Rs 70 to close at Rs 63,600 per kg.

Bullion prices fall

At the Delhi Bullion Market, gold sink by Rs 102 to Rs 48,594 per 10 grams on Friday. HDFC Securities given this information. Gold had closed at Rs 48,696 per 10 grams in the previous session. Silver even declined marginally by Rs 16 to Rs 62,734 per kg. The previous closing cost was Rs 62,750 per kg. In the international market, both gold and silver were running almost unchanged at 1, 1,836 an ounce and 23 23.92 an ounce, respectively.

How much the price has fallen since August

On August 7, gold on MCX had approached Rs 56,254 per 10 grams. On that day, silver had even reached Rs 76,008 per kg. But since then they have reduced significantly. Gold closed at 49,290 per 10 grams on Friday. Thus, it has a dropped by Rs 6964 from the record level. Similarly, the price of silver has even declined by Rs 12,408. Silver closed at Rs 63,600 per kg on a Friday.

In November, people shopped frantically

The average sales volume of gold and silver jewelry increased by 16 % in November compared to October, despite the price of gold approaching record levels. This details was given in a report. As per to data gathered by startup OK Credit, the average sales per customer increased by 16 per cent in terms of funds, but the average per capital sales size of gold jewelry reduced 

by 70 per cent compared to the festive season last year. The report said that as gold prices remained high, the average per-customer sales size of gold jewelery declined, with people focusing on buying smaller and lighter jewelery.

Why is gold declining?

Gold prices are falling on positive news on the vaccine front to combat the Covid-19 epidemic. Experts say that with the improvement in the global economy and easing of tensions between the US and China, investors are turning to the stock market instead of gold. That is 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.

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Gold glitter has always increased in the hour of trouble!

Gold has always shone brightly in times of trouble. There were many wars in 1979 and gold jumped about 120 per cent that year. Even as recently as 2014, the US threat on Syria was looming, but gold prices were skyrocketing. However, later it came to its old level. The price of gold also rose when US tensions with Iran escalated or when a Sino-US trade war ensued.