Gold Price Review Gold Silver Weakens Despite Weak Wedding Season

Despite the wedding season, gold was shining in the second week of December, while silver also looked weak. In the bullion market, the spot price of gold fell by Rs 2,270 per 10 grams from December 10 to 11. The price of silver during the period stood at Rs 8.2 per kg. Compared to the high price of gold, gold has become cheaper by Rs 72020 per 100 grams while silver has become cheaper by Rs 1377776.

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Note that on the morning of August, gold had reached Rs 56,524 per 10 grams. This is a high rate all the time. Speaking of silver, on this day it has reached Rs 76,6008 per kg. Experts say long-term investment in gold is a lucrative deal. However, they also say that a thorough check should be made before investing.

Similarly, in the second week of December, gold and silver are moving

Date and day Evening Gold Rate (Rs / 10g)

Evening Silver Rate (Rs / kg)

11 Friday 49046 62232
10 Friday 49191 62,600
Wed Wednesday 49689 39 63 2 22
T Tuesday 78 78 2782 83 63839
Monday 19 19 1 62148

Rapid growth in the first week of December

Gold returned to the trail in the first week of December. At the same time, silver regained its lost tone. In the first week of December, gold rose by Rs 48,487 per 10 grams and silver by Rs 2,95 per 10 grams. However, gold is still Rs 7,000 cheaper than its peak. Meanwhile, silver is soft at Rs 12,444.

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Gold shines in the long run

According to Reuters, the weak dollar has led to a move to equities in the hope of a vaccine and a recovery in the economy. This could further lower the price of gold. Anuj Gupta, vice-president (commodities and currency) at Angel Broking, says gold prices are falling globally due to positive news about the corona vaccine. Despite this, given the current lows, gold could reach Rs 10,570,000 to Rs 100,000 per 10 grams in the next one year. They say investing in gold in the long run is a lucrative deal. However, they also say that a thorough check should be made before investing.

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