Today, the price of gold and silver declined in the national capital. The yellow metal fell by Rs 102 to Rs 48,025 per 10 grams in the national capital. According to HDFC Securities, the 24-carat yellow metal had closed at Rs 48,127 per 10 grams in the previous trading session. Gold became cheaper due to the rise in the rupee against the dollar.
Silver became cheaper by Rs 269
Talking about silver, it fell by Rs 269 to Rs 70,810 per kg. Silver had closed at Rs 71,079 on the previous trading day. In the international market, gold reached $ 1,882.50 an ounce while silver remained flat at $ 27.67 an ounce.
Investment opportunity in gold
From today, the government has given the public a chance to buy gold at cheaper rates. Investors can buy gold at a much lower price than the market price under the Sovereign Gold Bond Scheme. The scheme will be open for only five days (from 24 May to 28 May). That is, today is its first day. Under the scheme, you can buy gold at 4,842 per gram. That is, if you buy 10 grams of gold, then it costs Rs 48,420 and if the gold bond is purchased online, then the government gives an additional rebate of Rs 50 per gram to such investors. In this, payment for applications has to be made through 'digital mode'. For buying gold online, investors will have to shell out Rs 4,792 per gram of gold. In this case, you will get 10 grams of gold for Rs 47,920.
Investors are increasing investment in gold
Investors are increasing investment in gold amid the uncertain economic environment due to the second wave of the Coronavirus epidemic. In April, Rs 864 crore was invested in the Gold Savings Fund and the Gold Exchange Traded Fund (ETF). According to figures from Morning Star India, the Gold Savings Fund and Gold ETFs have a net inflow of Rs 184 crore and Rs 680 crore, respectively, in the month of April. According to the data, an investment of Rs 3,200 crore was invested in the Gold Fund in 2020-21, while more than Rs 6,900 crore was invested in the Gold ETF.