Amidst the record-breaking pace of the Corona outbreak, gold is preparing to make another 50 appearances. This is bad news for those who buy gold and jewelry made for the wedding. At the bullion markets this month, 24 carat gold so far is trading at Rs 2364 per 10 grams. However, it is cheaper than its all-time high of Rs 56254 on August 7, 2020 at Rs 9808. If we talk about silver, it is faster than gold. It is priced at Rs 4068 per kg compared to the closing price of 31 March 2021.
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Enhanced after a bad start in 30 years
Speaking of 2021, gold began its worst in the last 30 years. Gold prices started to drop from January, but once again it accelerated in April. During Corona’s first wave and complete lockdown, gold prices rose significantly, even though demand in bullion markets was negligible. The situation is becoming less and less like last April.
This month, gold and silver movement so far
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| Date | Morning gold rate / 10g | The golden evening price is Rs | Silver Morning Price Rs / kg | Silver Evening Price Rs |
| 09 April 2021 | 46554 | 46446 | 67175 | 66930 |
| 08 April 2021 | 46152 | 46411 | 66905 | 67219 |
| 07 April 2021 | 45904 | 45929 | 66139 | 66032 |
| 06 April 2021 | 45421 | 45410 | 65600 | 65422 |
| 05 April 2021 | 45176 | 45259 | 64546 | 64962 |
| 01 April 2021 | 44917 | 44919 | 63634 | 63737 |
| 31 March 2021 | 44228 | 44190 | 62727 | 62862 |
| 31 December 2020 | 50123 | 50202 | 67282 | 67383 |
| 7 August 2020 | 56254 | 56126 | 76008 | 75013 |
Source: IBJA
Why gold and silver are rising
Ajay Kedia, director of Kedia Capital, said in a conversation with liveindoosatn.com that the reason for the gold price rise last year was the lockdown, rising corona cases, low interest rates, central bank purchases and more. This year the situation is more or less the same. Interest rates are still low. The rupee has been steadily weakening against the dollar. Another round of sanctions has begun around the world, with people turning to gold once more for safe investment. This will enable the gold to reach Rs.
What happened last year
At the beginning of 2020, gold will be priced at Rs 39,100 per 10 grams. And .ns for US $ 1,517. However, in the bullion market, on December 31, 24 carat gold was priced at Rs 39240. The initial setback for the epidemic was short-lived and gold came to Rs 38,400, but after that it slowly rose to Rs 56,254 per 10 grams.
Corona accelerates
In India, more than 1.25 lakh new cases of coronation have been reported in the country for the third consecutive day. Today, all the records have been broken since the coronavirus epidemic began and more than 1 lakh 44 thousand new positive cases were reported in just one day. On Thursday, a total of 31,000 new cases were reported. Of these, 83.29 per cent of cases were related to the ten most affected states, including Maharashtra.
