On Friday, gold prices in MCX fell by 0.15 per cent, ie Rs 76 to Rs 49,145 per ten grams. At the same time, the price of silver dropped by 0.75 percent i.e. Rs 502 to Rs 66,181 per kg.
With the preparation of vaccination in the country, the price of gold and silver has started to decline. Vaccination against Corona infection will begin 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 like stocks and exiting gold. This is the reason why the price of gold and silver is coming down.
Gold and silver fall in MCX
On Friday, gold prices in MCX fell by 0.15 per cent, ie Rs 76 to Rs 49,145 per ten grams. At the same time, the price of silver dropped by 0.75 percent i.e. Rs 502 to Rs 66,181 per kg. Gold and silver prices remained flat in the spot market on Thursday. Gold prices remained at Rs 49285 per ten grams, while silver was priced at Rs 65,174 per kg. HDFC Securities gave its information. Earlier on Wednesday, gold had closed at Rs 48,757 per 10 grams. Silver also fell by Rs 390 to Rs 64,534 per kg.
Gold also fell in the international market
In the international market, gold fell to $ 1,842 an ounce. Silver held steady at $ 25.21 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold is going down on the strong dollar.” Spot gold climbed 0.3 percent to $ 1851.14 an ounce in the global market on Friday. Silver climbed 0.3 percent to $ 25.59 an ounce.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.