Gold and silver prices rose slightly in the national capital on Tuesday. Today, the price of gold in the national capital has risen by only 63 rupees to 45,099 rupees. According to HDFC Securities, gold stood at Rs 44,96666 per 10 grams in the previous trade.
Silver becomes 62 rupees
Speaking of silver, it rose by Rs 62 to Rs 64,650 per kg. Silver had closed at Rs 4.56 on the previous trading day. In the international market, gold reached 73 1,733 per ounce while silver stood at, 24.97 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 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, 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). Yellow metal imports during the same period last year were ২ 26 billion. According to data released by the Ministry of Commerce, the decline in gold imports has helped reduce the country’s trade deficit.