Gold and silver prices have seen a major decline in this week. During the last several months, both the precious gems did not see such a huge shortfall. The futures price of gold on the multi-commodity Exchange (MCX) on Friday came down to 238 rupees, to 49,666 rupees per 10 grams. Gold as well as silver were also seen to be declining. Silver has come down by about 1 per cent to 59,018 rupees per kilogram.

On the weekly basis, the price of gold decreased by about Rs. 2,000 per 10 grams. While silver has been cheaper than Rs 9,000 per kilogram. Brocrez houses say the price of gold coming down to Rs 49,250 means that it will now trade between Rs 48,900 to 48,800 per 10 grams.

The global market has seen the biggest decline in gold and silver since March. Here in gold in the last one week 4. There has been a decline of 6 per cent, while silver has also declined by 15 per cent. The price of precious metals is declining due to the strengthening of the dollar and the state of uncertainty over global economics, the enlists say. One of the reasons for investing in gold is that it helps to get rid of rising inflation. But there is a suspicion of rising inflation amidst sluggish recovery. With this, many changes have been observed.

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