For the last few days, the rise in the prices of gold, which was being seen, turned into a decline on Friday evening. Gold on the Multi Commodity Exchange has completely changed in 24 hours. Gold has broken Rs 1600 after 24 hours of life time high. On the other hand, a big decline has also been seen in the price of silver. Silver has become cheaper by about Rs 2,353 from today’s high till evening. According to experts, gold and silver had given up to 12 per cent returns this year, due to which correction was due. In such a situation, due to the selling of investors, there has been a decline in both gold and silver.
Gold becomes cheaper by Rs 1,600 from record high
- Gold price had reached a life time high of Rs 61,845 24 hours ago i.e. on the evening of May 4.
- On the evening of May 5, gold prices reached a low of Rs 60,250.
- This means that the price of gold has fallen by Rs 1,595 in 24 hours.
- At present, gold prices are trading at Rs 60,510 with a fall of Rs 983 at 8.40 pm.
- By the way, gold opened at Rs 61,566 on MCX today.
- A day ago, gold prices had closed at Rs 61,629.
Silver will become 80 thousand rupees after one month, gold will cross 62 thousand, know how
Big fall in the price of silver
- On the other hand, a fall of about Rs 1,800 was seen in the price of silver during the trading session.
- On May 5, silver had reached the day’s high of Rs 78,292 in the morning session.
- By the evening, there was a big drop in it and the price of silver came down to Rs 75,939.
- This means that the price of silver has come down by Rs 2,353 from the high in a few hours.
- By the way, silver opened at Rs 78,100 today and closed at Rs 78,038 a day ago.
Why the demand for gold decreased in India, reached the lowest level of 6 years
profit booking of investors
According to Kedia Advisory, the possibilities of correction in Gold and Silver were being seen for a long time. Investors booked profits after silver crossed Rs 78,000. At the same time gold has also come down from the record high. By the way, sentiment strong is being seen in both the metals. In a month, both can appear at a new level.
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