Gold prices rises by Rs 1500 in one week
In the second wave of the Corona epidemic, gold and silver are again becoming expensive. This week, gold has risen by Rs 1,527 to Rs 46,446. At the beginning of the week it was at Rs 44,919. Whereas silver has risen to Rs 66,930 per kg from 63,737 this week. That is, silver has become expensive by Rs 3,193 this week.
Before April 1, gold was at Rs 44,190 per 10 grams. During this period, silver has become expensive by Rs 4,068. Before April 1, the price of silver was Rs 62,862 per kg.
Gold and silver prices rise due to market volatility
Gold is expensive due to market volatility or uncertainty. There is still an uncertainty around the world due to the corona pandemic. Corona is at its peak in the country at the moment. Due to this, there is an atmosphere of fluctuations in the stock market. This is also the reason why investors are turning to gold.
During an environment of volatility or uncertainty, investors withdraw money from stocks and invest in gold. Gold prices start to rise from this as well. Apart from this, the dollar has strengthened to Rs 74.75 against the rupee in the past. Gold has also become costlier because of this.
Gold price may increase with Corona
Experts believe that the speed with which Corona is spreading in the country right now. In such a situation, gold can reach 47 to 48 thousand in the next 1-2 months. At the same time, it can again go up to 50 thousand by the end of the year. Last year, when the first wave of Corona was at its peak, the price of gold reached a record level of Rs 56,200 in August 2020.
In the international market, the price reached $ 1,744 an ounce
In the international market, the price of gold has reached US $ 1,744.20 an ounce. Gold was trading at $ 1,744 an ounce on April 8 on the global futures price Comex. On April 1, it was priced around US $ 1,712.
Investment in gold ETF also increased
Investments in Gold Exchange Traded Funds (ETFs) also increased last month. According to the data, there was a net investment of Rs 662 crore in these schemes in March. In February, an investment of Rs 491 crore was made.
