On Monday, gold prices rose marginally in the national capital. Gold rose by Rs 61 to Rs 44,364 per 10 grams. According to HDFC Securities, gold stood at Rs 44,303 per 10 grams in the previous trade.
Silver has become expensive at Rs 162
Speaking of silver, it has risen by Rs 122 per kg to Rs 338. On the previous trading day, silver was closed at Rs 66,1,6. Gold was at 1, 72,726 per ounce in the international market, while silver was at .9 25.95 an ounce.
The main reason for price fluctuations
The fluctuations in the US dollar, the growing incidence of chronoviruses and related restrictions, mixed economic data from large economies, and additional stimulus measures have led to fluctuations in gold and silver prices. 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
To address the economic impact of the corona, gold has benefited from large-scale incentives in 2020. In 2020, it 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.
151 percent came back in a decade
If you look at the figures from January 2011 to December 2020, both the Gold Sensex and the Silver have earnings. Gold has returned 151 percent this decade. Gold had a good lead in 2011, but since then, from January 2012 to June 2017 it has been around 26,000. That is, it did not return for five and a half years. Gold picking started again from December 2019 and it has created a new historical level.