Continuing the decline in the previous trading session, the price of gold has been recorded in the national capital even today. According to HDFC Securities, the price of gold in the domestic market declined by Rs 141 to Rs 48,509 per 10 grams. The yellow metal had closed at Rs 48,650 per 10 grams on the previous trading day.
Slight rise in the price of silver
Talking about silver, today the price of silver increased by Rs 43 to Rs 66,019 per kg as against Rs 65,976 per kg in the previous trading session. In the international market, gold and silver stood at the US $ 1,853.26 per ounce and US $ 25.55 per ounce respectively.
Gold increased by 25 percent in 2020
Gold has benefited from large-scale incentives in the year 2020 to counter Corona’s economic impact. It has increased by 25 percent in 2020. Gold is seen as a hedge against inflation and currency decline. Talking about silver, it had increased by 50 percent during this period.
Economic demand may increase gold demand this year
According to a report by the World Gold Council (WGC), consumer sentiment is improving during 2021 in India with the recovery of the coronavirus epidemic, and demand for gold appears positive. According to the report, initial data for Dhanteras in November showed that the demand for jewelry was below average, but it improved significantly from the low of the second quarter of last year (April-June 2020). The report further noted that global economic growth will remain sluggish to its full potential for some time, but because of the stability in gold prices over the past few years, buying opportunities for consumers will increase.