There has been a big fall in the spot price of gold in the last 20 days. In the bullion market, gold has become cheaper by Rs 3501 per 10 grams during this period, while those buying silver have incurred a loss of Rs 5685 per kg since November 6. As compared to the all-time high, gold has become cheaper by Rs 7282 per 10 grams and silver has become weaker by Rs 15748 per kg.
Gold Price Latest: Gold-Silver Price Changes, Know Today’s Latest Rate
Gold prices fell due to these reasons
Many pharmaceutical companies of the world have come close to making Corona effective vaccine. In the coming time, gold will no longer be a safe investment due to reduced fear of corona. Gold is falling due to this. According to Reuters, due to the weakening of the dollar, Kovid-19 vaccine and the hope of recovery in the economy began to shift towards equity. This may further reduce the prices of gold.
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Markets have recovered completely due to the fall in the stock market due to the corona virus epidemic. Most of the stock markets have reached or are around the pre-corona era. At the same time, gold is also returning to the previous level of the Corona period. Gold was at Rs 41000 per 10 gram level on 24 February 2020, while the Sensex is close to 44000. Tell us that silver has lost Rs 18736 from its peak of August 7. On August 7, gold opened at 56254 in the bullion markets. It was at its peak, while silver reached Rs 76008 per kg.