After yesterday's fall in the bullion market, gold and silver have become expensive today. According to the website of India Bullion and Jewelers Association (IBJA), gold has become costlier by Rs 340 to Rs 47,646 per 10 grams today. However, there is a slight decline in gold in the futures market today. Today at 1:30 pm on MCX, gold is getting cheaper by Rs 67 and is trading at Rs 47,517.
On Monday, gold fell by Rs 23 to Rs 47,306 per 10 grams in the bullion market. On the other hand, when it comes to silver, it has come down by Rs 33 to Rs 62,202 per kg.
There has been a big jump in the price of silver in the bullion market today. According to the website of IBJA, today silver has increased by Rs 828 to Rs 63,030 per kg. However, it is trading at Rs 62,844 with a fall of Rs 83 on MCX at 1.30 pm.
During the first wave of Corona last year, people invested heavily in gold. Due to this, gold had reached the price of Rs 56,200 per 10 grams in August 2020. Now gold has come to Rs 47,646 per 10 grams in the bullion market. That is, it is still getting cheaper by Rs 8,554.
In the international market, gold has once again come out above $ 1,800 per ounce and has come down to $ 1,803. Silver is also trading at $24 an ounce.
When the dollar is strong, gold is cheap and when the dollar is weak, gold becomes expensive. The dollar has weakened against the rupee now. It has come down to Rs 74.13 today. Anuj Gupta, Vice President (Commodity & Currency), IIFL Securities says that by the end of August, the dollar can come to 74 rupees. With this, gold and silver will get support from the coming days.
Anuj Gupta says that due to the weakening of the dollar, the brightness of gold will increase and it can once again go up to Rs 52 thousand per 10 grams by the end of the year. At the same time, silver can also go up to Rs 68 thousand per kg.
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