Gold-Silver Price: In the last days, a decline is being seen in the silver reaching the level of 70,000. The rate of silver has come down for the second consecutive day on Thursday. Gold and silver prices are seeing a rise after the record sales on Diwali. This is the reason that in the last two months only there has been a record rise in both the precious metals. After the increase in the cases of Kovid, there is a possibility of further increase in the price in the coming time. In fact, even in the first wave of Covid, people had invested in gold as a safe investment.
Silver fell by Rs 113 on MCX
On Thursday, both gold and price saw a decline on the Multi-Commodity Exchange (MCX). However, gold became costlier in the bullion market and a decline was seen in silver. Gold fell by Rs 41 to Rs 54720 per 10 grams and silver by Rs 113 to Rs 68900 per kg on the Multi-Commodity Exchange at around 1 pm on Thursday. Earlier in the session, silver had closed at Rs 69013 per kg and gold at Rs 54761 per kg. In August 2020, gold made a record of Rs 56,200.
There was a boom in the bullion market
In the bullion market, there was a rise in gold and a fall in silver on Thursday. According to the price released by the India Bullions Association (https://ibjarates.com), 24 carat gold rose by Rs 78 to Rs 54649 per 10 grams. A decline was observed in the price of silver and it came down to Rs.67660 per kg. Earlier in the day, silver had closed at Rs 67,848 per kg. On Thursday, the rate of 23 carat gold reached Rs 54430 per 10 gram, 22 carat Rs 50059 per 10 gram and 18 carat reached Rs 40987 per 10 gram.
In November and December itself, the price of gold has increased by about Rs 5,000 per 10 grams and that of silver by Rs 10,000 per kg. Experts are showing the possibility of further increase in the price of both in the coming time. The price may increase further in the new year as well.