In the past weeks, both the precious metals have been increasing rapidly, even at the domestic level, the brightness of gold and silver is increasing. Last week, gold in the MCX futures market rose by Rs 171 to close at Rs 50,244 per 10 grams. Gold Mini was also quoted at Rs 50,266 per 10 grams with a weekly strength of Rs 479.

In the international markets also, the price of gold is increasing rapidly. On the weekend, the gold spot has closed at $ 1,898.80 an ounce, shining at $ 42.40. US gold futures for February rose by $ 19 to $ 1,901.60 an ounce. Silver spot strengthened by $ 0.58 during the week and closed at $ 26.42 an ounce on the weekend. At the domestic level, silver rose by Rs 614 to Rs 68,123 per kg in MCX. But silver Mini jumped by Rs 569 to Rs 68,047 per kg.

According to the information received, due to the weakening of the dollar, the coronavirus vaccine and the hope of recovery in the economy has started focusing on equity. Due to which there has been a further decrease in gold prices. Anuj Gupta, deputy vice president (commodity and currency), Angel Broking, says that gold prices are falling globally due to positive news about the Covid-19 vaccine. After this, given the current low level, gold can reach Rs 57000 to Rs 60000 per 10 grams in the next one year. They said that in the long term, investment in gold has been profitable. However, they also say that one should do a complete investigation before investing.

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