New Delhi: Although the rise in the price of gold and silver has been going on for several months. That too when people are showing less interest in buying jewelery. Even then, the prices of both metals are continuously increasing. In just five business days in August this month, silver has increased 5 times more than gold. Between August 3 and August 7, where the spot price of gold has increased by Rs 2303, silver has become expensive by Rs 10243 during the same period.
Silver had closed at Rs 64770 per kg on August 3, while silver closed at Rs 75013 on Friday August 7. If we talk about gold, on August 3, gold had closed at Rs 53976 per 10 grams, but on Friday it has closed at Rs 56126. Now the biggest question is that when the gold and silver jewelery buyers are missing in the bullion markets, how are the prices of these metals going up? Ajay Kedia, director of Kedia Commodities, has responded that the trend of general investors has shifted towards gold, gold ETFs and bonds. Mining work is affected due to coronavirus infection and supply is disrupted.
In a period of uncertainty in the stock market and the crisis in the economy, all fund managers are trying to increase the share of gold in their portfolios. The biggest reason for this is that it is considered a safe investment option. Central banks, fund managers, independent investors etc. These people are buying gold on various exchanges all over the world. This is the reason why the price of gold is also at a record high in the international market and it is having an impact on the domestic market as well.
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