On Friday, gold in the national capital weakened by Rs 522 to Rs 43,887 per 10 grams. According to HDFC Securities, gold had closed at Rs 44,409 per 10 grams in the previous trade.
Silver became cheaper by Rs 1,822
Silver also declined by Rs 1,822 to Rs 64,805 per kg. Silver had closed at Rs 66,627 on the previous trading day. In the international market, gold was at $ 1,696 an ounce while silver was priced at $ 25.20 an ounce.
Today is the last day to buy gold cheaply
If you want to invest in gold then this is the right time for you. The central government has introduced the Sovereign Gold Bond Scheme. The 12th series of Sovereign Gold Bonds started on March 1 and today is the last day of March 5. This scheme is the last series of the current financial year. The most important thing in this is that this time the price of Sovereign Gold Bond is the lowest in ten months, that is, at the low level of 10 months. The Reserve Bank of India has fixed the price of gold subscriptions at Rs 4,662 per gram this time. If you apply online, you will get a rebate of 50 rupees per gram. This means that you will spend Rs 4,612 for one gram of gold.
Major causes of price fluctuations
The fluctuations in the US dollar, rising coronavirus cases and related restrictions, mixed economic data from major economies, and additional stimulus measures have led to fluctuations in the price of gold and silver. Analysts say the biggest factor in the price of gold in the last few weeks is progress on the vaccine front.
In order to counter the economic impact of Corona, gold benefited from large-scale incentives in the year 2020. It was increased by 25 percent in 2020. Gold is seen as a hedge against inflation and currency decline. Talking about silver, there was a 50 percent rise during this period.