New Delhi: Gold prices continue to fall due to the good news about the corona vaccine. On Friday, the price of 10 grams of gold fell to Rs 48,185. Meanwhile, the price of one kilogram of silver has fallen below Rs 60,000. Traders say that the price of gold has come down significantly from the record high of August. On Thursday, gold touched Rs 48,600 per ten grams on the MCX. On August 7, gold hit a record high of Rs 56,200. Its price has come down after a rise of about four months. This has increased the demand for gold in both rural and urban areas. Gold is also being bought for weddings. The number of customers increased significantly. If gold prices fall further, gold sales on both online and offline platforms are expected to increase. According to the India Bullion and Jewelers Association, demand is increasing. Falling prices have increased consumer interest in shopping. The economy is also opening up, with people looking at gold as a long-term asset class.
New Gold Prices (Gold Price, 27 November 2020): The price of 10 grams of gold in the capital Delhi today fell by Rs 43 to Rs 48,142. It had closed at 48,185 on Thursday after a day’s trading. Today, the price of gold in the international market has come to डॉलर 1810 per ounce.
New Silver Prices (Silver Price, 27 November 2020): According to the information provided by HDFC Securities, silver became cheaper by Rs 36 in the Delhi bullion market. Its prices came down to Rs 59,250 per kg. Earlier in the day, silver had closed at Rs 59,286 per kg. The price in the international market was 23 23.29 per ounce.
Why gold and silver prices are falling – HDFC Securities Senior, HDFC Securities Senior, Analyst (Commodities) Tapan Patel, Motilal Oswal’s VP Research Navneet Damani says that gold prices fell more than expected Is. Behind this is the news about the corona vaccine. Because with the advent of the corona vaccine, economic recovery around the world will accelerate. Therefore, the ongoing safe investment demand for gold will decrease.
AstraZeneca said Monday that its corona vaccine has been developed in partnership with Oxford University. This vaccine is much cheaper than other companies’ corona vaccines and can be up to 90% effective.
After this news, the safe investment demand for gold has decreased. Meanwhile, U.S. President Joe Biden is reportedly planning to make Janet Yellen, former chairman of the Federal Reserve, the next U.S. Treasury Secretary. This news has also been welcomed by the traders.
