Gold set a new record for the fastest time in the Corona period and faded by November. At the same time, silverware has been blown away by the positive news of the Kovid-19 vaccine. Gold rose to Rs 7425 per 10 grams in August. On Friday, 24 carat gold at bullion market closed at Rs 48829 for 10 grams. On the morning of August 7, gold was trading at Rs 56254 per 10 grams. This is the highest rate of all time. Speaking of silver, today it has reached Rs 76008 per kg and by November 27 it has dropped to Rs 60069 per kg. 15939 per kg of silver during this period.
Gold and silver moved last week
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| Date | Evening Gold Rate (Rs / 10g) |
Silver Evening Rate (Rs / kg) |
| 27 November 2020 | 48829 | 60069 |
| 26 November 2020 | 48972 | 60260 |
| 25 November 2020 | 48935 | 60191 |
| 24 November 2020 | 48975 | 59704 |
| 23 November 2020 | 50304 | 61486 |
| 20 November 2020 | 50407 | 62027 |
Source: IBJA
If we talk last week, there has been a huge drop in gold prices. That’s when the wedding season is in progress. Gold is cheaper at Rs 1578 per 10 grams compared to November 20. At the same time, silver was worth Rs 1958 per kg. At the same time, the price of gold from November 16 to 20 was Rs 839 per 10 grams and silver was Rs 2074 per kg.
The reason for the decline
Gold prices are falling globally due to positive news about the corona vaccine. Experts say that apart from improving the global economy and easing tensions in the US-China, the stock trend has increased. The trend on gold is down. In such a situation, there is no expectation of a sharp jump in gold in the coming days.
Today’s gold price: Gold is cheap again during the wedding, know today’s latest price
At the same time, as the dollar weakened, the Kovid-19 vaccine and the promise of recovery in the economy began to move toward equity. This could further reduce the price of gold. Stone Ax analyst Rona O’Connell points out that the vaccine is not a cure and that the increase in infection rates is a major concern not only for humans but also for the economy. Also, negative interest rates remain.
Gold shines in the long run
Anuj Gupta, vice president (commodity and currency) of angel broking, says gold prices are falling globally due to positive news about the corona vaccine. In spite of this, gold is expected to reach 57 thousand to 60 thousand per 10 grams over the next one year, if the current low is observed. They say investing in gold in the long run is a lucrative business. However, they say one must do a thorough investigation before investing.
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