Thursday, January 27, 2022

Gold Price Update: Gold price continues to fall, know here the latest price

New Delhi: The period of constant change in the prices of gold and silver continues. If you want to buy gold in this marriage season then there is good news for you. On Monday, the first trading day of the week, the price of gold continues to fall. The price of gold fell again. Earlier on Friday, the price of silver declined. In the bullion markets, the rate of 24 carat gold has once again come down to 45000.

On Monday, the spot price of gold declined by Rs 302 in the national capital. Due to this fall, the price of gold has fallen to Rs 44,269 per 10 grams. Earlier on Friday, gold was Rs 44,571 per 10 grams. On Monday, the price of silver fell by Rs 1,533 per kg. Due to this, the price of silver has fallen to Rs 65,319 per kg. On Friday, silver had closed at Rs 66,852 per kg.

According to experts, due to the fall in the global price of gold and the strengthening of the rupee, the price has come down. The international market witnessed a fall in both gold futures and spot prices on Monday evening.

Not only this, gold has also fallen much less than its all-time high price. In fact, in August last year, gold reached the record level of Rs 56200 per 10 grams, but since then it has fallen by more than Rs 11,000.

On the other hand, if you talk about this year, gold has become cheaper by more than Rs 5000 so far. On 31 December 2021, gold was at Rs 50202 per 10 grams and silver was at Rs 67383 per kg. But when compared to last Friday, gold was at Rs 44937 per 10 grams and silver at Rs 66815 per kg. In this case, gold has been cheaper by Rs 5265 so far this year and while silver has fallen to Rs 568.

According to experts, the concerns of corona infection are now going away from the minds of the people. Hence, people are no longer buying gold as a safe investment. Investors have turned to the stock market. Hence, prices may fall further in the coming days. In the domestic bullion market, the price of gold can fall to 40 thousand rupees per ten grams. At the same time, these people say that the trend of declining gold prices may continue for the next 15 days. But, it is expected to reach Rs 50 thousand per ten grams again by Diwali.

In fact, Finance Minister Nirmala Sitharaman has announced a 5 percent reduction in import duty on gold and silver in the budget proposal. Currently, 12.5 percent import duty has to be paid on gold and silver. But now from October 1, only 7.5% import duty will be paid on gold and silver. This will also reduce the prices of gold and silver.

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