On Monday, the price of gold and silver declined in the national capital. The yellow metal today fell by Rs 57 to Rs 46,070 per 10 grams in the national capital. According to HDFC Securities, gold had closed at Rs 46,127 per 10 grams in the previous trade.
Silver becomes cheaper by Rs 270
Talking about silver, it fell by Rs 270 to Rs 66,043 per kg. Silver had closed at Rs 66,313 on the previous trading day. In the international market, gold reached $ 1,738 an ounce, while silver was at $ 25.08 an ounce.
9000 kilograms of digital gold sales in three years
In the last three years, 8,000 to 9,000 kg of digital gold has been bought and sold in the country. Seven-eight crore people have invested in it so far. Experts associated with this business say that there is always a fear among middle-class families about fluctuations in gold prices and theft if kept at home. At the same time, there is no such problem in the purchase of digital gold. He says that at present when new avenues are being discovered for technology and investment, digital gold is also becoming a strong place in it. Although it is already practiced abroad, it has been seen increasing in India for three years.
What is Digital Gold?
Digital gold means that when a person buys gold online, then the bullion companies keep the gold of that price in their locker. In return, the customer gets a receipt. As you keep investing in it, the gold in your locker increases. You can also sell it online if needed.
Gold demand decreased by more than 35 percent last year
The country's gold demand declined by more than 35 percent to 446.4 tonnes in the last year ie 2020. This information is given in a report by the World Gold Council (WGC). On the WGC's 2020 gold demand stance, the report noted that the demand for gold declined amid the enforced lockdown due to the coronavirus and the price of precious metals reaching their all-time high. However, at the same time, the report said that the situation is now normalizing and the industry has been strengthened by continuous reforms. Therefore, the demand for gold is expected to improve in 2021 this year.