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- Gold Rate Today | Gold Silver Prices Drop Again, Gold At Rs 48475 Per 10 Gram
New Delhi8 minutes ago
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Today there has been a big fall in the prices of gold and silver again. Today at 4:15 pm on MCX, gold has fallen by Rs 559 to Rs 48,344. On the other hand, according to the website of Indian Bullion and Jewelers Association, today gold has come down by Rs 553 to Rs 48,475.
silver also became cheaper
On the other hand, talking about silver, according to the Indian Bullion and Jewelers Association, it has come down by Rs 501 to Rs 71,638 per kg. On the other hand, talking about MCX, today silver has become costlier by Rs 740 and has reached Rs 71,487 per kg.
Investors need not panic
Anuj Gupta, Vice President (Commodity & Currency), IIFL Securities says that investors need not worry about this fall in gold. There is no possibility of gold going below 48 thousand. At the same time, by the end of this year, gold can go up to 55 thousand rupees.
Why is gold getting cheaper?
Anuj Gupta says that now the US economy has started stabilizing once again and due to this the dollar has started strengthening. When the dollar is strong, gold is cheap and when the dollar is weak, gold becomes expensive.
Gold became cheaper in the international market too
On Monday, with the rise in the dollar, gold prices declined. In the international market also, gold has come down to US $ 1,854 an ounce. Anuj Gupta says that by the end of this month gold can come to US $ 1,840 an ounce.
Gold and silver shine bright in May
Gold has become costlier by Rs 2,241 in the month of May. On April 30, gold was at Rs 46,791 per 10 grams, which reached Rs 49,032 on May 31. On the other hand, when it comes to silver, it was at Rs 67,800 per kg on 30 April, which reached Rs 71,350 on 31 May. That is, in May itself, it has become expensive by Rs 3,550.
Last year gold had reached 56 thousand
By the time Corona was at its peak last year, the price of gold had reached its all-time high. In August 2020, the record level of Rs 56,200 was reached. At that time, there was an atmosphere of fear among investors due to the Corona epidemic. At this time, once again such an atmosphere will be created.