Despite the wedding season, gold shone in the second week of December, while silver also looked weak. In the bullion markets, the spot price of gold declined by Rs 270 per 10 grams from December 7 to 11. During this period, silver remained soft at Rs 832 per kg. If compared to the highest price of gold, gold has become cheaper by Rs 7208 per 10 grams so far and silver is cheaper by Rs 13776.
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Explain that on the morning of August 7, gold had reached Rs 56254 per 10 grams. It is an all time high rate. Talking about silver, on this day it reached Rs 76008 per kg. Experts say that long term investment in gold is a profitable deal. However, they also say that one should do a complete investigation before investing.
This is how gold and silver move in the second week of December
|Date and day||Evening Rate of Gold (Rs / 10g)||
Evening Rate of Silver (Rs / kg)
Fast rise in first week of December
Sona returned to the trail in the first week of December. At the same time, silver has also regained its lost tone. In the first week of December, the price of gold increased by Rs 487 per 10 grams, while silver was strongly rebounded to Rs 2995. However, gold is still around Rs 7000 cheaper than its peak. At the same time, silver is soft at Rs 12944.
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Gold will shine in the long term
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. 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 57000 to Rs 60000 per 10 grams in the next one year. He says that investing in gold in the long term is a profitable deal. However, they also say that one should do a complete investigation before investing.