Gold Price Review: Gold Rs 839 and Silver Rs 2074

Even before the wedding season began, gold and silver prices began to decline. In the last one week, the spot price of 24 carat gold has dropped by 83 grams to Rs 50416 per 10 grams. At the same time, silver is very cheap. The silver position was Rs. On November 20, silver at bullion markets closed at Rs 62027. Talking about the decline so far in November, gold is cheaper by Rs 433. On October 29, the gold price was Rs 50840 per 10 grams. In contrast, silver is priced at Rs 2101 per kg. On October 29, silver was trading at Rs 59926.

5847 is cheaper than maximum gold

On August 7, gold opened at 56254 in bullion markets. If it is at its peak, silver will be worth Rs 76008 per kg. That is, gold is cheaper from its all-time high of Rs. Silver was trading at Rs 13,981, up from its August 7 peak.

The gold and silver movement in November so far

Date Gold Rate (Rs / 10g)

Silver Rate (Rs / kg)

20 November 2020 50407 62027
19 November 2020 50344 61505
18 November 2020 50627 62605
17 November 2020 51054 63386
16 November 2020 51246 64101
13 November 2020 50849 62700
12 November 2020 50702 62797
11 November 2020 50708 62440
10 November 2020 50665 61784
09 November 2020 52420 66052
6 November 2020 52473 65845
05 November 2020 51532 62799
04 November 2020 51306 61243
03 November 2020 51242 62250
02 November 2020 51037 61867
29 October 2020 50840 59926

Source: IBJA

Five Reasons for a Price Decline

  • Dollar weakness against other currencies including Rupee
  • Positive news about Corona being vaccinated
  • The US government prepares assistance to small industries
  • Political uproar on a global scale
  • China’s tensions with other countries, including India and the US

In the next one year, gold may be 60 thousand

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.

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However, they say one must do a thorough investigation before investing. 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.

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