Gold has become cheaper by about Rs. 12000 from its highest price. In the last 4 days, gold has become costlier by about Rs. 1000 per 10 grams. Gold and silver prices are rising rapidly before the season of sahalag i.e. weddings. On Friday, on the last trading day of last week, the price of 24-carat gold in the bullion markets closed at Rs 44332 per 10 grams and today ie on 18 March Thursday, gold has reached Rs 45253. At the same time, silver has strengthened by Rs 1749 during this period.
Gold and silver prices soared in 4 days
| date | Gold Rate in the morning Rs / 10Gm | Gold evening price Rs / 10Gm | Silver Morning Price RS / Kg | Silver evening price RS / Kg |
| 18 March 2021 | 45253 | — | 67590 | — |
| 17 March 2021 | 44965 | 44791 | 66527 | 66654 |
| 16 March 2021 | 44926 | 44861 | 67304 | 66940 |
| 15 March 2021 | 44827 | 44828 | 66535 | 66965 |
| 12 March 2021 | 44601 | 44332 | 66480 | 65841 |
Soon the price will reach Rs 47000
In India, gold can go back up to Rs 47,000 per 10 grams and silver can go up to Rs 70,000 to Rs 72,000 per kg. According to Ajay Kedia, director of Kedia Advisory, gold in the domestic futures market had closed flat in the previous session, but due to the boom in the international market after the Fed’s decision, the domestic bullion market can also see a huge boom. He points out that the Federal Reserve has indicated no change in its policy interest rates by 2023, leading to a bullion market boom, while putting pressure on the dollar. Explain that the US central bank has decided to keep the federal fund rate stable at minus 0.25 percent.
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