Gold prices are still significantly below the highest level even after rising steadily.
Gold touched All-Time High in the first week of August. Gold price was Rs 56,200 per 10 grams on 7 August. At the same time, on Friday, May 7, 2021, the price of gold in Delhi Bullion market closed at Rs 47,760 per 10 grams. At the same time, the silver price was Rs 78,256 per kg on August 10, which closed at Rs 71,500 per kg on Friday.
New Delhi. As the cases of corona virus are increasing, gold prices are also increasing. Actually, most states have resorted to lockdown to control the speed of Covid-19. This is affecting business activities. History has been that whenever a major disaster strikes, investors increase investment in the safest investment option gold. This gives support to gold prices. However, despite persistent fast trend, at this time, the price of gold is going down by Rs 9,015 from its all-time high. If the circumstances of the corona infection remain like this, then it is expected to go up rapidly. At the same time, the silver price is also moving much below the all-time high. Silver prices fall by Rs 7,465 per kg Gold touched an all-time high in the first week of August 2020. The price of gold was Rs 56,200 per 10 grams on 7 August 2020. At the same time, on Friday, May 7, 2021, the price of gold in Delhi Bullion market closed at Rs 47,760 per 10 grams. On this basis, the prices of gold have fallen by more than Rs 9,015 per 10 grams from the highest level. At the same time, the price of silver was Rs 78,256 per kg on 10 August 2020, which closed at Rs 71,500 per kg on last Friday. On this basis, the price of silver has decreased by more than Rs 7,465 per kg. read this also- 2118 bank branches closed till now after merger, check which banks are included in this listCorona’s second wave halts gold-silver fall Gold and silver prices were falling after October 2020, with a decline in corona virus cases. At one time, the price of gold had reached the level of Rs 43 thousand per 10 grams. After this, the second wave of Corona infection which started in the country from the middle of March 2021, again spoiled the improving business environment. By the end of the half of April, many states started implementing strict restrictions to curb the spread of Corona. After this, all the rating agencies started reducing the economic growth rate by revising their estimates about the Indian economy. In such a situation, investors who were profiting in gold and silver again started investing in gold. Due to this, its prices started increasing again. read this also- The market cap of the top 8 companies increased, TCS benefited the most
Prices may increase further if conditions do not improve The second wave of Corona could not be controlled, even before scientists started warning of the third wave in India. Scientists and experts say that the third wave will be more dangerous than the first and second. Most experts say that the third wave (Covid-19) will come in September or October 2021. If the second wave could not be controlled quickly, and no strong arrangements were made to deal with the third wave, then the trend of gold prices would continue. It is believed that gold prices can cross the level of Rs 63,000 per 10 grams, creating a new record. In such a situation, it can be said that in this period of crisis, investment in gold at current prices can prove to be very helpful for investors in the coming time.