In the last five days, gold had fallen by Rs 1774 per 10 grams. At the same time, silver had fallen by Rs 8428 per kg. Both metals gained momentum on Friday, the last trading day of the week. The continuous decline in the price of gold and silver in bullion markets came to an end on Friday.
On Friday, 24-carat gold became costlier by Rs 314 per 10 grams in the bullion markets across the country and opened at Rs 50136 and closed at Rs 49846 with a gain of only Rs 24. At the same time, there was a big jump in the silver rate this morning. The spot price of silver rose by Rs 2372 to 58843 this morning. It later closed at a rate of Rs 57477 per kg with a strength of Rs 1006.
Experts believe that the weakness in gold is only for a short time, with the improvement in demand, gold can again touch the level of 52000 rupees, not only till the end of December, gold can touch 56000 level. However, if we look at the market at present, gold prices can come to around Rs 47000-48000.