Bullion rises by Rs 215
Gold rose by Rs 215 to Rs 49,059 per 10 grams in the Delhi Bullion Market on Wednesday in support of the rise in global prices of precious metals. HDFC Securities gave this information. Gold had closed at Rs 48,844 per 10 grams in the previous trading session. Silver also rose by Rs 1,185 to Rs 64,822 per kg during this period. The previous closing price was Rs 63,637 per kg. In the international market, gold rose sharply to $ 1,854 an ounce, while silver remained at $ 24.72 an ounce.
People shopping fiercely in November
Despite the price of gold reaching record level, the average sales size of gold and silver jewelery has increased by 16 percent in November compared to October. This information was given in a report. According to data collected by startup OK Credit, the average sales per customer grew 16 percent in terms of funds, but the average sales size per customer of gold jewelery has fallen by 70 percent compared to the festive season last year. The report said that since the price of gold is at a high level, the average selling size per customer of gold jewelery declined, where people focused on buying small and light jewelery.
Why is gold falling?
Positive news on the vaccine front to tackle the Kovid-19 epidemic is leading to a fall in gold prices. Experts say that due to improvement in global economy and easing tension between US-China, investors are leaving the stock market instead of gold. This is the reason why a huge surge in gold prices is unlikely in the near future. However, gold is still considered a good investment option for the long term.
The glow of gold has always increased in times of trouble!
Gold has always shone brightly in times of trouble. In 1979, many wars took place and gold had jumped about 120 percent that year. Most recently, in 2014, even though the threat of America was looming over Syria, the price of gold had started touching the sky. However, later it returned to its old standard. Gold prices rose even when US tensions with Iran increased or when there was a Sino-US trade war.