On Friday, the price of gold decreased in the national capital, while the silver price recorded an increase compared to Thursday. According to HDFC Securities, the price of gold declined by Rs 75 to Rs 51,069 per 10 grams. However, the price of silver rose by Rs 121 to Rs 62,933 per kg. In the international market, gold was trading at $ 1,908 an ounce, while silver was at $ 24.72 an ounce.
Gold and silver became cheaper on Thursday
On Thursday, the price of gold and silver declined. Yesterday, the price of gold was reduced by Rs. 95 to Rs. 51,405 per 10 grams and the price of silver was reduced by Rs. 504 to Rs. 63,425 per kg. In the international market, gold was trading at $ 1,918 an ounce, while silver was trading flat at $ 24.89 an ounce.
Demand will increase in the festive season
In India, gold prices have risen 25 percent this year, in line with global levels. Analysts expect the US dollar and
The fall in the price of gold will continue on the basis of the uptick in general market risk perception. Analysts expect the demand for gold in India to increase in the festive season. Gold is affected by widespread stimulus measures as it is widely seen as a hedge against inflation and currency depreciation.
India has so much gold reserves
According to the report of the World Gold Council, at present, India has 653 metric tonnes of gold. With this, India comes in 9th place in the world in terms of the highest gold reserve. This is 7.4 percent of its total foreign exchange reserves.