Gold has rewarded its investors in the past one year. If gold rose by Rs 10,062 per 10 grams by 2020, silver was stronger than expected. 20718 per kg of silver in one year However, gold is still cheaper from its highest price of Rs 6052. Similarly, silver is priced at Rs 8625 per kg above its previous year’s high price. If experts are to be believed, the investment in gold and silver will be profitable this year. Gold can reach 63000 and silver 85000.
6052 is still cheaper than the all-time high
| Metal | Rate as on 31st December 2020 (Rs / 10g) | 7th August 2020 Rate (Rs / 10g) |
Rate change (Rs / 10 g) |
| Gold 999 (24 carats) | 50202 | 56254 | -6052 |
| Gold 995 (23 carat) | 50001 | 56029 | -6028 |
| Gold 916 (22 carat) | 45985 | 51529 | -5544 |
| Gold 750 (18 carat) | 37652 | 42191 | -4539 |
| Gold 585 (14 carat) | 29368 | 32909 | -3541 |
| Silver 999 | 67383 | 76008 | -8625 |
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At the beginning of 2020, gold will be priced at Rs 39,100 per 10 grams. And .ns for US $ 1,517. However, the price of 24 carat gold at the bullion market on December 31 was 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. Silver also reached 76008 rupees.
Such is the movement of gold and silver in 2020
| DhaYou | Rate as on 31st December 2020 (Rs / 10g) | Rate as on 31st December 2019 (Rs / 10g) |
Rate change (Rs / 10 g) |
| Gold 999 (24 carats) | 50202 | 39240 | 10962 |
| Gold 995 (23 carat) | 50001 | 39083 | 10918 |
| Gold 916 (22 carat) | 45985 | 35944 | 10041 |
| Gold 750 (18 carat) | 37652 | 29430 | 8222 |
| Gold 585 (14 carat) | 29368 | 22995 | 6373 |
| Silver 999 | 67383 Rs / kg | 46665 Rs. | 20718 Rs / kg |
Gold returned 27.7 per cent this year
Gold has yielded 27.7 per cent this time in the last 10 years. Prior to that, in 2011, gold gave investors about 31 percent profit. At the same time, the price of gold in the international market is up more than 23 per cent. At this time, silver investors cut a lot of silver. 76000 per kg in silver bullion market.
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Why gold prices go up
- The dollar may weaken due to fresh incentives and this may lead to gold prices rising again.
- Gold will remain attractive to investors due to inflationary pressures due to large-scale incentives.
- Gold demand from India and China will be significant in 2021, which has weakened over the past few years and may pick up again.
- While the price of gold at Comax is 1 2,150-2,390 per ounce, gold at MCX may be between Rs 57,000-63,000.
- The purchase of the Kovid-19 vaccine, low interest rate, equity market boom and ETFs in 2021 will brighten gold and silver.
- Investors have no choice but to invest. This is likely to increase gold and silver prices.
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