Gold Silver Rate: While the prices of gold and silver were making new high records till Dhanteras and Diwali, the rates of both the precious metals have continuously become cheaper in the last 10 days. The surprising thing is that in just 10 days, gold has become 6 percent cheaper from its upper level and it has been reduced by Rs 4750. At the same time, silver has shown a record decline and has shown a cheap price of Rs 10,000 in 10 days. Silver had crossed Rs 1 lakh but now the price is being seen up to Rs 90 thousand per kg. Gold which had reached Rs 79,700 is now at the rate of around Rs 74,950.
The decline of gold and silver is linked to America.
Since the elections in America on November 4 and Donald Trump’s victory there, the prices of Bitcoin are continuously rising, while the rates of safe asset gold and silver are continuously falling. Keeping pace with the sequential fall of the rupee and the rise of the dollar, gold and silver have slowed down their pace. The dollar index has crossed 106 today.
You will get the benefit of gold becoming cheaper in the country during the wedding season.
Those people who are looking for an opportunity to buy during the wedding season can get the benefit of gold becoming cheaper in India at this time. This is a golden opportunity for those who buy gold. Whether Indians see any political or diplomatic connection with Donald Trump’s victory, they are definitely seeing benefits in buying precious metals. The strengthening of the dollar due to Trump’s victory has put pressure on the rupee and gold rates have continuously come down. This time, in the export and import figures also, the import of gold and silver has decreased respectively.
read this also
Trade Data: Good news on foreign trade front, exports jumped 17 percent to 28-month high
