Gold Price Latest Update: Important news for gold buyers. In fact, the price of gold has been falling rapidly for some time. According to a recent report, let us tell you that the rate of gold has fallen by more than Rs 5000 per 10 grams.
Gold-Silver Price: There has been a rapid decline in the price of gold for some time. Due to the ongoing turmoil in the international market, huge pressure is being seen in gold. The rate of gold has fallen by more than Rs 5000 per 10 grams.
In such a situation, there will be a question in your mind whether this is the right time to buy gold or not? The festive season will start from Navratri. During this period the demand for gold and silver increases. There is a tradition in India of buying gold and silver on the occasion of Diwali and Dhanteras.
Gold had reached a record of Rs 61700-
Gold is falling due to pressure in the international market, especially in the American market. In the international market on Wednesday, gold fell to $ 1827.40 an ounce. Only about four months ago it had reached the record level of $ 2,085.40 per ounce. Similarly, silver also fell by 0.48 percent to $ 21.28 an ounce. In the Indian bullion market also, the price of gold had reached a record level of Rs 61700 in the first week of May. From that level till now gold has fallen by more than Rs 5000 per 10 grams.
Condition of gold and silver in India-
A slight rise is being seen in gold and silver on Multi Commodity Exchange. In the morning, silver is trading at Rs 67352 with a rise of Rs 467 per kg. Similarly, gold has increased by Rs 149 and is trading at Rs 56870 per 10 grams.
Talking about the bullion market, in the trading session that closed on Wednesday, gold closed at Rs 56653 per 10 grams and silver at Rs 67446 per kg. The price of silver in bullion had reached a record level of Rs 77280 four months ago. There is a decline of about Rs 10 thousand in it from the level of four months ago.
Why did gold and silver fall?
The price of gold is decided on the basis of market demand and supply. With increase in demand for gold, its rate will also increase. Global economic conditions greatly influence its rates. For example, if the global economy performs poorly then investors start investing in gold as a safe option. Due to this, gold starts increasing rapidly. This was the reason for the rise in gold rates in the past days during the Corona epidemic. Gold is currently trading at its lowest level in several months. There is a possibility of increase in demand due to increase in demand in the coming festive season. In such a situation, investing in it can be a profitable deal for you.
