Gold prices rose slightly in the national capital on Tuesday. Gold rose by Rs 45 to Rs 44,481 per 10 grams. According to HDFC Securities, gold stood at Rs 44,436 per 10 grams in the previous trade.
The price of silver has risen by 11 rupees
Speaking of silver, it rose by Rs 116 per kg to Rs 66,640. On the previous trading day, silver was closed at Rs 624. In the international market, gold was priced at ১ 1,3030 an ounce and silver was at $ 2.11 an ounce.
Gold demand expected improvement
The country’s gold demand fell more than 35 percent last year to 446.4 tonnes, in 2020. A report by the World Gold Council (WGC) has given this information. The report on the WGC’s 2020 gold demand position states that 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, the report said that the situation is now normal and the industry has been strengthened through a series of reforms. Thus, gold demand is expected to improve this year in 2021.
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.
According to the report, India’s gold demand fell by 35.34 per cent to 4,446.4 tonnes in 2020 from 9,090.4 tonnes in 2012. According to the WGC, demand for gold fell 14 per cent to Rs 1,7,260 crore last year.