Gold-Silver: Yellow metal becomes cheaper, but the price of silver increases

Gold-Silver: Yellow metal becomes cheaper, but the price of silver increases

On Friday, gold prices fell in the national capital, but silver prices rose sharply. Gold fell by Rs 147 to Rs 44,081 in the national capital today. According to HDFC Securities, gold price in the previous trade stood at Rs 44,228 per 10 grams. The rise in the rupee against the dollar had an impact on gold in the domestic market.

Silver becomes expensive at Rs 1,036

Speaking of silver, it rose by Rs 1,036 per kg to Rs 64,276. Silver had closed at Rs 633,240 on the previous trading day. In the international market, gold reached 72,726 per ounce, while silver was at. 24.14 an ounce.

Sales of 9000 kg digital gold in three years

In the last three years, 8,000 to 9,000 kg of digital gold has been bought and sold in the country. So far seven to eight crore people have invested. Experts associated with the business say there is always a risk among middle-class families of gold price fluctuations and theft when kept at home. At the same time, there is no problem in buying digital gold. He says digital gold is also becoming a stronghold as technology and new ways of investing are being explored.

What is Digital Gold?

Although it has already been practiced abroad, in India it has been on the rise for three years. Digital gold means that when a person buys gold online, the sultan’s companies keep that gold in their lockers. In return the customer receives a receipt. As you continue to invest in it, the amount of gold in your locker increases. If necessary, you can also sell online.

India is the largest importer of gold

India is the largest importer of gold in the world. Gold is mainly imported to meet the demand of the jewelery industry. India imports 800 to 900 tons of gold a year by volume. A stronger dollar makes gold more expensive for other currency holders.

Leave a Reply

Your email address will not be published. Required fields are marked *