New Delhi: Gold is good news for buyers. Gold price has been recorded since the opening of the market today on the first trading day of this week. However, it has currently recorded a slight drop of Rs 17. Currently gold is at Rs 48,685.00. At the same time, the price of silver is seen to be Rs 260.00. At present, silver is at Rs 65,024.00 level. However, there is still a full day left. But it was being traded.
In the last five months, the price of gold has fallen by almost Rs 8,400. The price of gold has become much cheaper than its previous high level. The previous high level of gold was seen on 7 August 2020. In this session, the February 2021 futures gold had closed at Rs 57,100 per ten gram. If we compare it with the current price, then the price of this gold has become Rs 8,398 cheaper than its previous high level.
Significantly, for the last several months, the price of gold has been fluctuating. In the past week also, a decrease in gold prices has been recorded. On the last trading day of the week, Friday gold price declined by Rs 519 and closed at Rs 48,702 per 10 grams. Apart from this, the futures price of gold on April 5, 2021, fell by Rs 514 to Rs 48,715 per 10 gram on the last trading day of the previous week.
On the other hand, it has also come down significantly from the previous high. The previous high level of silver was seen on 10 August 2020. In this session, the price of silver in March 2021 futures closed at Rs 79,147 per kg. In this way, the price of silver has been broken by Rs 14,383 in the last five months.
Janakars say that vaccination against Corona infection has started in the country from 16 January. This is expected to speed up economic activities in the country. Hence, investors are now investing in high risk instruments such as stocks and exiting gold. This is the reason why the price of gold and silver is coming down.
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