The decline in gold prices in the country has led to a spurt in retail purchases. At the same time, demand for physical gold in China has also increased.
Gold and silver prices continue to fall. Gold prices fell on Monday in the domestic market as well. After signs of improvement in the economy, investors are now moving towards more risky instruments like stocks. Therefore gold and silver are declining.
Gold prices fell in MCX
In MCX, the price of gold fell by 0.14 per cent i.e. Rs 67 to Rs 47,189 per ten grams. At the same time, Silver fell by 0.31 per cent, ie Rs 212 to Rs 68,526 per kg. At the same time, gold fell for the fifth consecutive day in the spot market on Friday. On Friday, gold fell by Rs 163 to Rs 46,738 per ten gram in the Delhi market, while silver rose by Rs 530 to Rs 67,483 per kg.
Gold gets stronger in global market
Gold spot reached Rs 47048 per ten gram on Monday in Ahmedabad’s Sarafa Bazar. At the same time, Gold Future reached Rs 47204 per ten grams. Gold was strong in the global market.
Expectations of recovery in the economy have increased due to better job market figures. This has affected the dollar and gold prices have increased. Spot gold has risen 0.1 percent and its price has reached $ 1813.99 an ounce. US Gold Future climbed 0.2 percent to $ 1816.50 an ounce.
Meanwhile, physical gold demand in China increased last week. At the same time, the price of gold in India has come down slightly. Retail shopping has increased due to this. Spot silver in the world market rose 1.1 percent to $ 27.12 an ounce. At the same time, platinum rose 0.7 percent to $ 1130.91. Palladium held steady at $ 2,336.29.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.