Even before the marriage season starts, gold and silver prices have started falling. In the last one week, the spot price of 24 carat gold has fallen by Rs 839 to Rs 50416 per 10 grams. At the same time, silver has become very cheap. The silver spot has lost Rs 2074 compared to November 16. On November 20, silver in the bullion markets closed at Rs 62027. If you talk about the decline so far in November, gold has become cheaper by Rs 433. On October 29, the gold rate had closed at Rs 50840 per 10 grams. In contrast, silver has become costlier by Rs 2101 per kg. On 29 October itself, the silver spot closed at Rs 59926.
5847 rupees cheaper than peak gold
On August 7, gold opened at 56254 in the bullion markets. It was at its peak, while silver reached Rs 76008 per kg. That is, gold has become cheaper by Rs 5847 per 10 grams so far from its all-time high. While silver has lost Rs 13,981 from its peak of August 7.
Gold and silver movement has been so far in November
Date Gold Rate (Rs / 10g)Silver Rate (Rs / kg) 20 November 2020 50407 62027
19 November 2020 50344 61505
18 November 2020 50627 62605
17 November 2020 51054 63386
16 November 2020 51246 64101
13 November 2020 50849 62700
12 November 2020 50702 62797
11 November 2020 50708 62440
10 November 2020 50665 61784
09 November 2020 52420 66052
6 November 2020 52473 65845
05 November 2020 51532 62799
04 November 2020 51306 61243
03 November 2020 51242 62250
02 November 2020 51037 61867
29 October 2020 50840 59926
Gold can be 60 thousand in next one year
Anuj Gupta, deputy vice president (commodity and currency), Angel Broking, says that gold prices are falling globally due to positive news about the Corona vaccine. Despite this, given the current low level, gold can reach Rs 57 thousand to 60 thousand per 10 grams in the next one year. They say that investing in gold in the long term is a profitable deal.
