After the news of Corona vaccine, there is some improvement in the market. Which has a direct impact on the prices of gold and silver. In the last 2 days, the price of gold fell by Rs 1200, while the price of silver also decreased.
Gold and silver prices have seen a huge drop in Indian markets today. In many parts of the world, due to the lockdown, gold-silver prices were seen rising. But after the news of Corona vaccine, there is some improvement in the market. Which has a direct impact on the prices of gold and silver. In the last 2 days, gold prices fell by Rs 1200, while silver prices decreased. Gold futures on MCX today slipped 0.9% to Rs 49,051 per 10 grams, while December delivery silver 550 rupees, ie 0.09 per cent, fell to Rs 59,980 per kg.
Spot gold was down 0.6 per cent to $ 1826.47 an ounce. This is the lowest level of gold after July. Similarly, silver declined by 1.1 percent. Platinum saw a rise of 0.5 percent.
After the good news related to the corona vaccine, the price of gold in the global market has seen a rise. Asian stock markets were mostly at high levels today, as the progress of making the affordable corona vaccine raised hopes of a global economic recovery. AstraZeneca said on Monday about the COVID-19 vaccine that it is developing in partnership with Oxford University, which is 90% effective. This vaccine is much cheaper than other companies.
There is a lot of pressure on the gold and gold prices in the international market. According to information available on Investing.com’s website, gold for December delivery was trading at the level of $ 1898, down by about $ 7. Similarly, silver for December delivery was trading at a level of $ 24.35 with a fall (Silver international price).
Demand will increase in the festive season
Demand will increase in the festive season In India, gold prices have increased by 25 percent in line with the global level. Analysts expect the fall in the price of gold based on the appreciation in the US dollar and general market risk perception. Analysts expressed the hope that gold demand in India will increase in the festive season. Gold is affected by widespread stimulus measures as it is widely seen as a hedge against inflation and currency depreciation.