Silver falls for the fifth consecutive day
There is good news for those who buy gold and silver. Gold and silver prices fell in the Indian markets today amid weak global cues. On the Multi Commodity Exchange (MCX), the price of December futures gold has increased by 0.1 per cent to Rs 47,695 per 10 grams. On Friday, the price of gold had fallen by 0.75 per cent. At the same time, before Dhanteras, the price of December futures silver has fallen by 0.16 per cent per kg. The price of silver has declined for the fifth consecutive day.
Due to the strong US dollar in the international market, the price of gold has fallen today. Even ahead of the Federal Reserve policy meeting later this week, investors are cautious. Spot gold fell 0.1 per cent to $1,781.78 an ounce. The US dollar index rose to 94.192, making gold less attractive to buyers holding other currencies.
New price of gold and silver (Gold-Silver Price on 1 November 2021)-
On Monday, December futures gold prices on MCX rose by Rs 60 to Rs 47,695 per 10 grams. In the international market, the spot gold price fell to $ 1781.78 an ounce.
At the same time, the December futures silver on MCX slipped by Rs 104 to Rs 64,430 per kg. In the international market, the price of silver fell 0.20 percent to $ 23.81 an ounce.
According to Reuters, physical gold was sold at a premium in India last week amid a spurt in retail gold purchases ahead of Diwali and Dhanteras. Dealers in India were last week charging a premium of up to $0.5 an ounce over the official domestic prices, up from the $1.5 discount last week. Gold prices in India include 10.75 percent import duty and 3 percent GST.
Hope to be bright in this Dhanteras jewelery market
With the fear of the third wave of Kovid-19 subsiding, there is enthusiasm among the people about the festive season as well as there is a softening in gold prices at this time. In such a situation, the jewelery market is expected to remain bright.
A body of the jewelery industry said that it is expected that this year’s festival jewelery sales will reach the pre-Covid level of 2019. The reason for this is that at present, the price of 10 grams of gold is Rs 46,000-47,000 per 22 carat, which is about 5 percent less than in 2020. Along with this, now there is an increase in marriage and marriage events.
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