Amidst growing cases of Corona virus, a major decline in gold-silver prices today was recorded in Delhi Bullion Market. A similar decline was seen in the international market today.
new Delhi. Amid the decline in the global market, today, in the bullion market in Delhi, the price of gold and silver (Gold-Silver rates today) has recorded a big decline. Corona virus cases are constantly increasing worldwide. Meanwhile, there are also fears that a second wave of Corona Virus may come. This is the reason why investors appeared cautious about the equity market on Monday.
New price of gold (Gold Price on 15 June 2020) – On Monday, the price of 10 grams of gold in Delhi Sarafa market has fallen by Rs 380. After this, the new price has now been Rs 47,900 per 10 grams. Gold had closed at Rs 48,280 per 10 grams on its first trading day. Talking about the price of gold in the international market, it also saw a decline today, after which it was at the level of $ 1,721 per oz.
Silver prices (Silver Price on 12 June 2020) – Similarly, the prices of silver were also recorded today. Today, the price of one kilogram silver fell by Rs 590 in Delhi Bullion Market, after which it reached the level of Rs 48,200. On the first trading day, the price of silver had closed at the level of Rs 48,790 per kg. In the international market today, the price of silver was at Rs 17.26 per ounce.
did gold prices fall?
HDFC Security Senior Analyst (Commodity) Tapan Patel said, “With the fall in the equity index, gold prices also declined on Monday. With the ever increasing case, now in the fear of the second wave of Corona virus, this decline was seen in the market today.
Increased investment in gold ETFs
Explain that due to Corona virus crisis, the investment of 815 crores in Gold Exchange Traded Fund (Gold ETF) came in May amid fluctuations in the stock market. The reason for this is that investors are now turning to safer investment options. The category has outperformed other properties over the past year.
According to the latest data from the Association of Mutual Funds in India (Amfi), the net investment in the May Gold ETFs stood at Rs 815 crore. In April, it invested 731 crore rupees. However, there was a withdrawal of Rs 195 crore in March. Earlier, it had invested Rs 1,483 crore in February and Rs 202 crore in January. In December last year, it invested Rs 27 crore and in November it was Rs 7.68 crore. In October, investors withdrew Rs 31.45 crore from this category.
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