On Tuesday, gold fell by Rs 9 per 10 grams to Rs 46,900 in the national capital’s Sarfa Bazaar. According to HDFC Securities, gold prices stood at Rs 46,909 per 10 grams on Monday. Silver closed at Rs 69,530 per kg with a gain of Rs 95 as compared to the previous closing price of Rs 9,435 per kg. International gold prices stood at দাম 1,821 an ounce, while silver remained almost unchanged at $ 2.60 an ounce.
So the reduction
Tapan Patel, senior analyst (commodities) at HDFC Securities, said, “The spot price of 24 carat gold has come down by nine rupees in Delhi as global gold prices remain narrow.”
The main reason for price fluctuations
Fluctuations in the US dollar, growing cases of the Crono virus and related restrictions, mixed economic data from large economies, and additional stimulus measures have caused gold and silver prices to fluctuate. Analysts say the biggest reason for the rise in gold prices over the past few weeks is the advance on the vaccine front.
In 2020, gold rose 25 percent
Gold has benefited from large-scale stimulus in 2020 to offset the economic impact of the corona. In 2020, it has increased by 25 percent. Gold is seen as a hedge against inflation and currency depreciation. Speaking of silver, it increased by 50 percent during this period.
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 Rs 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.