Gold Rate Today in India: On Tuesday, the spot price of gold and silver was recorded. On Tuesday, gold rose by Rs 198 to Rs 48,480 per ten gram in the Delhi bullion market. According to HDFC Securities, the rise in precious metals prices in the international market also led to a rise in the price of gold and silver in the local bullion market. The previous day, gold had closed at Rs 48,282 per ten grams. On Tuesday, silver also remained bright and its price rose by Rs 1008 to Rs 65,340 per kg. The previous day, silver had closed at Rs 64,332 per kg.
International market price
In the international market, both gold and silver were up. Gold rose to $ 1,843 an ounce, while silver rose to $ 25.28 an ounce. Talking about the value of the rupee, the rupee closed Tuesday at 73.17 (provisional) by 11 paise against the US dollar due to the rise in the domestic stock market and weakness in the US currency dollar.
Gold demand may increase in 2021
Recently, the World Gold Council said in a report that there was a lot of uncertainty in 2020. During the Corona epidemic, gold proved to be the best asset for investors due to high risk, low interest rate and price momentum. However, due to the lockdown in many major countries around the world, consumer demand was recorded at a low level. According to the WGC, in 2021, India has a better environment for both gold price and demand. A 20 per cent rise in the price of gold has raised consumer expectations.
Last year, there was a decrease in gold production in April-June 2020. However, according to the WGC report, there will be less supply constraints in 2021 this year as recovery in mining is expected.