Gold and silver prices rose in the national capital on Thursday. In the national capital, gold rose by Rs 81 to Rs 44,701 today. According to HDFC Securities, gold price stood at Rs 43,820 per 10 grams in the previous session.
Silver became expensive at Rs 1,071
Speaking of silver, it rose by Rs 1,071 per kg to Rs 63,256. Silver had closed at Rs 62,185 on the previous trading day. In the international market, gold reached 1, 1,719 an ounce and silver 24 24.88 an ounce.
Gold demand fell more than 35 percent last year
The country’s gold demand fell more than 35 percent last year to 446.4 tonnes, in 2020. This information has been given in a report of the World Gold Council (WGC). The WGC’s report on demand for gold in 2020 noted that demand for gold has declined amid a lockdown due to the price of coronavirus and effective precious metals reaching all-time highs. At the same time, however, the report states that the situation is now returning to normal and that the industry has been strengthened through a series of reforms. Thus, gold demand is expected to improve this year in 2021.
Gold imports fell 3.3 percent to ২ 2.11 billion in the first 11 months of the current fiscal year 2020-21. It is noteworthy that gold imports affect the country’s current account deficit (CAD). At the same time last fiscal, yellow metal imports stood at $ 26 billion. According to data released by the Ministry of Commerce, the decline in gold imports has helped reduce the country’s trade deficit.