Gold and silver prices rose sharply as the market opened on Monday. At 10.45 am on 22-2-2012, the price of gold at the Multi Commodity Exchange (MSX) was Rs 43,300 per 100 grams. And silver is trading at Rs 69373.00 per kg with a rise of Rs 361.00.
According to market experts, demand will increase this year due to the decline in gold rates. Gold prices are expected to reach Rs 58,000 per 10 grams. For silver, it is even estimated that it could touch the level of Rs 1 lakh.
The government is also going to bring rules related to gold. This change is related to keeping gold at home. The government is going to make a big change in the gold monetization scheme. Under this scheme, banks can avail the facility of depositing gold up to 10 grams. At the same time, it will be easier to take a loan on gold deposited under the gold monetization scheme.