Monday, August 8, 2022

Gold Price Update: Great opportunity to buy cheap gold before Holi, prices fell by 12000, know the latest price

New Delhi: Gold is good news for buyers before Holi. In this season of marriage, the period of constant fluctuations in the price of gold continues. Alam is that the price of gold has fallen by Rs 12000 so far as compared to August last year. In fact, the gold price reached a record level of Rs 56,200 in August 2020. At that time there was an atmosphere of fear among investors due to the Corona epidemic.

After declining for the past several days, a slight rise in the price of gold was observed on Thursday. On Thursday, gold rose by Rs 44 to Rs 44,347 per 10 grams. Earlier on Wednesday, gold had closed at 44,303 per 10 grams. Talking about silver, its price fell on Thursday. On Thursday, it fell by Rs 637 to Rs 64,110 per kg. Earlier, the price of silver had closed at Rs 64,747 per kg on Wednesday.

According to experts, the rise in global prices and the fall in the rupee against the dollar affected gold in the domestic market. In the international market, gold reached $ 1,733 an ounce, while silver was at $ 24.97 an ounce.

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Gold trick

Thursday 44347 per 10g

Wednesday 44303 per 10 grams

Tuesday 44499 per 10 grams

Monday 44900 per 10g

Friday 45021 per 10g

Thursday 44951 per 10g

Silver move

Thursday 64110 per kg

Wednesday 64607 per kg

Tuesday 65473 per kg

Monday 67669 per kg

Friday 67527 per kg

Thursday 67747 per kg

In fact, in August last year, gold reached the record level of Rs 56200 per 10 grams, but since then it has fallen by about Rs 12,000.

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.

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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% ​​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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Nation World News Desk
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