There is good news for those who buy gold and silver. Before Holi, the prices of gold and silver (Gold Silver Price) have come down. Due to the fall in precious metals in the international market and strengthening rupee against the dollar, the price of 10 grams of gold in Delhi bullion market on Monday fell by 302 rupees. At the same time, the silver price fell to Rs 1,533 per kg. According to HDFC Securities, falling gold prices globally made gold cheaper in the domestic market.
New Gold Price (Gold Price on 22 March 2021)
On Monday, the price of gold in Delhi Bullion Market fell by Rs 302 to Rs 44,269 per 10 grams. Gold had closed at Rs 44,571 per ten gram in the previous trading session. In the international market, gold rose marginally to $ 1.731 an ounce.
New Price of Silver (Silver Price on 22 March 2021)
At the same time, the price of silver fell by Rs 1,533 to Rs 65,319 per kg in Delhi Bullion Market on Monday. Silver had closed at Rs 66,852 per kg in the previous trading session. In the international market, silver was trading at $ 25.55 an ounce with silver weakness.
Why did gold fall?HDFC Securities Senior Analyst (Commodities) Tapan Patel said that business and investors are eyeing US bonds this week. Due to this, there was pressure on gold prices on Monday. He said that sales in gold were seen in early trade due to US bond yields and strong dollar.
Gold import decreasedGold imports declined by 3.3 percent to $ 26.11 billion in the first 11 months (April-February) of the current financial year 2020-21. According to the data, the reduction in gold imports has helped in reducing the country’s trade deficit. In the first 11 months of the current financial year, the trade deficit was reduced to $ 84.62 billion, compared to $ 151.37 billion in the same period a year ago.
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