Good News for gold buyers,Gold price fall again, know the price of gold in your city

Good News for gold buyers,Gold price fall again

Gold Price Update: Gold is very good news for buyers.  Recently, there has been a steady rise in the price of gold, but this boom of gold has been broken.  Once again the phase of decline in the price of gold has started.  There has been a steady decline in the price of gold for the past few days.

According to the rate released on the website of the India Bullion and Jewelers Association, gold price of 24 carat purity stood at 50421 per 10 grams on 8 January 2021.  Earlier, on January 7, it was Rs 51049 per 10 grams.  Similarly, the price of 22 purity gold was 46186 per 10 grams, which was 46761 on 7 January.  The gold price of 18 carat purity was 37816 per 10 grams on 8 January, which was 38387 on 7 January.

 

Gold Rate Update

City

22 Carret Gold

Per 10 grams

24 Carret Gold

Per 10 grams

Delhi

Rs 49,650

Rs 54,160

Mumbai

Rs 49,820

Rs 50,820

Kolkata

Rs 50,190

Rs 52,890

Chennai

Rs 47,920

Rs 52,270

Bengaluru

Rs 47,500

Rs 51,800


Significantly, for the last three days, a continuous decline in the price of gold is being recorded.  In its first session, gold has seen a gain of 0.85 per cent.  However, this boom came after falling to Rs 1,200 per 10 grams in a single day.  After reaching a high of Rs 56,200 in August last year, the price of gold has become cheaper by Rs 6,000 per 10 grams so far.

Gold prices have declined in the international market.  However, on the basis of the past one week, the overall price of gold has increased by 0.7 per cent.  The total holding of the world's largest exchange-traded fund, ETF, SPDR Gold Trust, has come down by 0.4 per cent to 1,182.11 tonnes.

According to experts, due to the strengthening in the US dollar and the rise in bond yields, gold prices have come down.  According to bullion market experts, the Biden administration managed to save from the huge fall in gold prices, hoping for another relief package.  News of the Kovid vaccine will be heavy on the relief package.  In such a situation, there will still be an upsurge in the market.

Amidst all this, the Indian government has made Aadhaar cord and pan cord mandatory for those buying gold above 2 lakh to curb their prices, after which their prices are expected to fall below.