New Delhi: The trend of declining gold prices over the past few days has continued. Today, the price of gold per 10 grams on the Multi-Commodity Exchange (MXX) has fallen below Rs 50,000. Gold prices are declining as the dollar rises and the possibility of a corona vaccine increases. Gold price at M4XX fell to Rs 6,909 today from Rs 572. At the same time, the price of silver fell to Rs 57.9 per kg. But there is a hint of the direction in which gold prices are moving from the price of MXX.
As the price of this precious metal is declining in the commodity exchange, it can be said that the price of gold in the jewelry showrooms is likely to improve in the coming days. The price of 22 carats of gold in Mumbai is Rs 6,829. It is subject to 3 per cent GST. The price of 24 carat gold is Rs 50.93. The 19-carat gold is priced at Rs 39,012 in the retail market. GST is being imposed on that. Gold prices have fallen by 3 percent and silver prices by more than 18 percent in the past three days. The gold price reached its highest level of Rs 57,100 last August. Gold prices are still 28 percent higher than last year. In the international market, gold prices have fallen to $ 14 an ounce, the lowest level in six months. The main reason for the decline in gold prices is said to be the rise in the value of the dollar. The rise in the incidence of coronary heart disease in Europe is expected to lead to another shutdown. That’s why those who invested in gold in the form of investment have started selling it in the hope of making a profit. That is why gold prices are also said to be declining. Gold prices are also said to be declining as uncertainty over when the U.S. government will bring back the economic package.
