After the fall in gold prices last week, the brightness of gold has increased today. According to the India Bullion and Jewelers Association, the price of 24-carat gold rose by Rs 445 to Rs 46546 per 10 grams on Friday on 22 February. At the same time, silver is selling at Rs 69342 per kg with a jump of Rs 928.
Today 23 carat gold rate is Rs. 46360. And the price of 22 carat gold has been Rs 42636. At the same time, 18 carat gold is being sold at Rs 34910 and 14 carat gold at the rate of Rs 27229 per 10 grams. Since August 2020, gold has become cheaper by more than 9500 rupees.
Gold became cheaper by Rs 870
last week, gold was cheaper by Rs 870 last week. On February 12, the price of gold was at 47 thousand. Which came to Rs 46,130 per 10 grams on 19 February. On February 19, gold prices had dropped by Rs 560.
Gold can go up to 68 thousand rupees in India in next 2 years
In sharp contrast to the global market, India’s trade analysts and gold traders are confident that in the next two years, a weighing gold can reach 68 thousand rupees. Navneet Artery, vice-president of Motilal Oswal Financial Service, believes that the government’s physical deficit has increased. It will take time to improve the economy. Until the economy improves, gold will continue to give the highest returns. In the coming 2 years, a weighing gold can cross 68 thousand.
After China, India has the highest consumption
of gold, after China, India is the largest gold market in the world. However, we have less than 0.5% gold production. However, demand is more than 25% of the total global demand. There is a demand of 800 to 900 tonnes of gold annually in India.