Gold and silver shine once again. In July, gold has become costlier by Rs 1,236 to Rs 48,430 per 10 grams. According to the Indian Bullion and Jewelers Association, gold was at Rs 47,194 in the bullion market on July 1. That is, gold has become expensive by about 3% this month.
Silver was at Rs 67,832 per kg on July 1, which has now reached Rs 68,053. That is, it has become expensive by Rs 221 in July. At one time in July, it had even crossed 69 thousand.
In June, there was a big fall in the prices of gold and silver. The gold which was at Rs 49,422 per 10 grams on June 1 had come down to Rs 46,753 on June 30. That is, gold became cheaper by Rs 2,669. On the other hand, talking about silver, it became cheaper by Rs 2,669. It was at Rs 72,428 per kg on June 1, which reached Rs 67,747 on June 30.
Anuj Gupta, Vice President (Commodity & Currency), IIFL Securities says that fears of the third wave of Corona and rising inflation are supporting gold. Due to this, gold can again go up to 55 thousand per 10 grams by the end of the year. That is why this can be the right time to invest in gold.
In the international market also, gold has reached US $ 1,814 an ounce, which was at $ 1,770 on July 1. According to Surendra Mehta, National Secretary, Indian Bullion, and Jewelers Association, by the end of this year, gold can reach US $ 2,200 an ounce in the international market as well.
Ajay Kedia, director of Kedia Commodity, says that corona cases have started increasing again in the country. In such a situation, there is a fear of the third wave among the people. Apart from this, inflation has also started increasing in the country. Even more gold is getting support.
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