Gold imports have increased due to increased demand in India and increased to $ 6.3 billion in April. However, silver imports declined. In the international market, the price of gold has reached a three-month high. Gold has registered an increase after a fall in the dollar and the US bond. Meanwhile, an increase in India gold imports has been recorded.
In the domestic market, gold in MCX rose by 0.68 per cent, ie Rs 322, to Rs 47,988 per ten grams, while silver rose by 1.14 per cent or Rs 812 to Rs 71,929 per kg. On Friday, the price of gold in the spot market was Rs 47,757 per ten grams, while silver reached Rs 70,360 per kg. On Monday, spot gold in Ahmedabad reached Rs 47569 per ten grams, while Gold futures fell 0.1 per cent to $ 1833 per ounce in the global market, selling at Rs 47,980 per ten grams, while Gold futures fell 0.2 per cent to $ 1834.20 per ounce. reached at.
According to the council, demand for the first quarter was due to relief in lockdown restrictions and price incident. Gold demand in the first quarter of 2020 was 102 tonnes. Meanwhile, the total demand for gold jewelery rose by 39% to 102.5 tonnes from 73.9 tonnes a year ago.
Meanwhile, due to increased demand in India, gold imports have increased and in April, imports reached $ 6.3 billion. However, silver imports declined. Its imports fell by 88 per cent in April. Gold demand in India has increased due to festivals and weddings season. But analysts believe that it may decline as the second wave of Corona intensifies. This time, Akshaya Tritiya did not see any significant increase in the purchase of gold.
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