New Delhi (Anish Yande): Investors have remained optimistic about the stability of markets after the announcements of promising reports of Covid-19 vaccines. They continued to invest in gold and silver, leading to low prices for two consequent weeks. In the week, the gold prices rate decreased by Rs 700 per 10 grams. The silver rate per kilogram decreased by Rs 1,500 per kg.
Decrease in Gold Prices in National Capital and India:
At the start of the week, gold prices rose slightly to Rs 50,114 for 10 grams.
A rise of Rs 3 was recorded in Delhi. Silver prices increased to Rs 62,023 per kilogram from Rs 61,572 per kilogram in last week's trade. An increase of Rs 451 was recorded, compared to the last trade close.
The rise was attributed to the decrease in the rupee against the dollar and uncertainty in the markets. Indian gold prices constitute 12.5% import and 3% GST.
On Wednesday, gold prices for 10 grams were recorded at Rs 50,253. Prices of gold decreased by Rs 357. Prices for 10 grams of Silver decreased by Rs 532 on the same day. The prices declined from Rs 62,639 per kilogram to Rs 63,171 per kilogram in the previous trade.
At the end of the week, prices of gold rose slightly to Rs 50,900 per 10 gram. 24-carat gold prices increased by Rs 10. Silver prices rose slightly to Rs 62,300. An increase in silver prices was recorded throughout the week.
Global Markets Experience Decrease in Gold Prices:
Global Markets experienced a rise in prices for gold and silver. Investors in the US relied on gold as a protection against possible inflation. This investment was a result of several factors, including continuing negotiations on stimulus measures. Gold rose to a rate of $1,871.99 per ounce at the start of the week then consequently declined by a rate of 0.8%.
Gold prices further declined in the US by 5%, following the optimistic reports from Moderna and Pfizer. Gold prices were previously high due to the uncertainty of the markets.
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