Gold-Silver Price: This Diwali the rate of gold will increase to the level of Rs 65,000 per 10 grams. Similarly, the rate of silver is expected to increase up to Rs 80,000 per kg. A decline was seen in gold and silver in the bullion market on Friday.
Gold Price 12th May: Due to continuous decline in gold and silver, people are thinking a lot before buying these metals. This is the reason why the sale of jewelery could not gain momentum even during the wedding season. But if you are also waiting for the price of gold and silver to come down, then today is your day. Yes, a big fall in the price of gold and silver has been recorded in both the bullion market and the Multi-Commodity Exchange (MCX) market. The ups and downs in the rate of gold and silver, which have been going on for a long time, are still continuing.
People heaved a sigh of relief due to the fall in the rate
Now people planning to buy jewelery have heaved a sigh of relief as gold and silver are cheaper. However, experts say that this Diwali the rate of gold will increase to the level of Rs 65,000 per 10 grams. Similarly, the rate of silver is expected to increase up to Rs 80,000 per kg. A decline was seen in gold and silver in the bullion market on Friday. Same was the case with the Multi-Commodity Exchange (MCX). However, more decline has been seen in silver.
Decline in both gold and silver
On the Multi-Commodity Exchange (MCX), there was a decline in both gold and silver on Friday. In the afternoon, a fall of Rs 537 was seen in the rate of silver and it is trading at Rs 73271 per kg. Apart from this, gold was seen trading at Rs.60797 with a fall of Rs.95. Earlier on Wednesday, gold had closed at Rs 60892 per 10 grams and silver at Rs 73808 per kg.
Bullion market rate has come down sharply
The bullion market rate is issued daily by the India Bullions Association ( https://ibjarates.com ). According to the rate released at 12 noon on Friday, gold fell by Rs 548 to Rs 61037 per 10 grams and silver fell by Rs 2431 to Rs 72354 per kg. Earlier on Thursday, the rate of silver had closed at Rs 74795 and gold at Rs 61585. Within two days, silver fell by more than Rs 3000 per kg.
On Friday, 23 carat gold reached Rs 60793, 22 carat gold at Rs 55909 and 20 carat gold at Rs 45777 per 10 grams. The price of gold and silver has been fluctuating rapidly for some time. At one point in February, gold fell to Rs 55,000 per 10 grams.
