News Cubic Studio

Truth and Reality

Gold has become cheaper again

On one hand, the stock market is seeing a great boom, on the other hand, gold prices have seen a fall. Gold closed at Rs 48,474 level today, has fallen by Rs 55 to open at Rs 48,419 level. In subsequent trade, this decline of gold continued to increase further. Around 10 o’clock in the morning gold had fallen by more than Rs 100. On the other hand, silver prices are seeing a rise. Silver, which closed at Rs 73,324 per kg on Monday, opened up by Rs 431 to Rs 73,755 per kg today. This silver boom continued to grow in day trading. Around 10 am, silver had seen a rise of more than Rs 510. A major reason for the fall in gold prices is the decreasing cases of corona virus. As the corona cases are decreasing, the trend of people is moving towards the stock market. On Monday, for the first time in nearly a month, Corona cases fell by less than 3 lakhs, which had a direct impact on the stock market and the Sensex rose about 848 points. Even today, the stock market has shown a rise of more than 650 points. Gold has fallen amidst increasing cases of corona virus. At the same time, the prices of silver have also been recorded. Gold has reached the level of Rs 48,419 per 10 grams. On the other hand, if we talk about silver, its price has now come to Rs 73,755 per kg. If seen, gold has become cheaper by almost Rs 7700 from its all-time high.

Gold prices are only going to increase in the coming days. The biggest reason for this is the corona virus, cases of which are increasing with each passing day. On Wednesday also, 3,79,257 new Kovid patients were found. In just 5 days, the number of active cases has increased by about 5 lakhs. There is a lockdown in Delhi. The rest of the states are also taking all strict measures, including the night curfew, which is having an impact on the economic activities. At such a time, people find a safe place to invest and gold is considered the safest. In such a situation, the prices of gold may increase in the coming time. Let us know what causes gold to be expensive.