Gold-silver: Rise in the price of precious metals, gold crosses 46 thousand and silver crosses 60 thousand
Gold and silver prices rose in the national capital today. Today, the yellow metal rose marginally by Rs 65 to Rs 46,012 per 10 grams. According to HDFC Securities, the price of gold in the previous session was Rs 45,947 per 10 grams. Influenced by the global market, the domestic market has increased today.
Increase in the silver price
Talking about silver, during this period silver increased by Rs 490 and its price rose to Rs 60,172 per kg. It had closed at Rs 59,682 per kg in the previous trading session. In the international market, gold was trading flat at USD 1,766 an ounce while silver remained flat at USD 22.74 an ounce.
Gems-jewelry exports stood at a record Rs 24239 crore in August
It is to be known that the country's gems and jewelry exports increased to a record Rs 24,239.81 crore in August 2021. The Gems and Jewelry Export Promotion Council (GJEPC) on Tuesday said exports have picked up due to increased demand for the upcoming festive season and the lifting of entry restrictions. Gems & Jewelry exports stood at Rs 13,160.24 crore in August 2020 and Rs 20,793.80 crore in August 2019.
According to the data, exports of cut and polished diamonds in the month under review increased by 29.37 percent to Rs 15,083.33 crore as compared to August 2019 due to increased demand in the US, China, and several European countries. However, gold jewelry exports declined 15.06 percent to Rs 5,756.54 crore. GJEPC Chairman Colin Shah said that the gems and jewelry export front are showing a healthy recovery in 2021-22 so far. Gold ETFs are based on the price of gold and their price fluctuates only with the fluctuations in their price. It should be noted that ETF inflows reflect weak investor interest in gold.