Today, the price of gold in India has risen slightly. According to HDFC Securities, the precious metal rose by Rs 336 to Rs 447,509 in the national capital on Thursday. In the previous trading session, gold was trading at Rs 47,473 per 10 grams.
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Silver, on the other hand, gained Rs 444 to Rs 9,030 per kg, compared to Rs 68,857,676 per kg in the previous trading session. In the international market, gold gained 8 1,844 an ounce and silver gained 27 27 an ounce.
Gold ETF investments rose 45% in January
In India, Rs 625 crore was invested in gold exchange traded funds (ETFs) in January, up 45 per cent from the previous month. Investors expect the gold market to move forward. Investments in gold ETFs rose 22 per cent to Rs 14,4841 crore at the end of January and Rs 14,1744 crore at the end of December, according to mutual fund consortium AMFI. In November 2020, Tk 141 crore was raised free of cost from such projects. Its total investment in December was Tk 431 crore. Himanshu Srivastava, Morningstar India’s assistant director of research, said gold prices had fallen to an all-time high in August last year. Its prices also dropped significantly in January.
Gold demand fell more than 35 percent last year
The country’s gold demand fell more than 35 percent last year to 446.4 tonnes in 2020. This information has been given in a report of the World Gold Council (WGC). The report on the WGC’s 2020 gold demand position said that the demand for gold has declined amid the lockdown imposed due to the price of coronavirus and effective precious metals reaching all-time highs. At the same time, however, the report states that the situation is becoming normal and the industry has been strengthened through a series of reforms. Thus, gold demand in 2021 is expected to improve this year.