While the prices of gold and silver were making new records till Dhanteras and Diwali, the rates of both the precious metals have been continuously falling in the last 10 days. The surprising thing is that in just 10 days, gold has become 6 percent cheaper from its upper level and it has been reduced by Rs 4750. On the other hand, silver has shown a record fall and has become cheaper by Rs 10,000 in 10 days. silver had crossed Rs 1 lakh but now its price is being seen up to Rs 90 thousand per kilogram. gold which had reached Rs 79,700 is at a rate of around Rs 74,950.
The fall in gold and silver prices is connected to America
After the elections in America on november 4 and the victory of donald trump there, the prices of bitcoin have been continuously rising, while the safe assets gold and silver rates are continuously falling. Keeping pace with the continuous fall of rupee and the rise of dollar, gold and silver have slowed down their pace. The dollar index has crossed 106 today.
The benefit of gold being cheaper in the country will be available during the wedding season
The benefit of gold being cheaper in india at this time can be availed by those who are looking for an opportunity to buy during the wedding season. This is a golden opportunity for those who buy gold. Whether indians see any political or diplomatic connection with Donald Trump's victory or not, there is definitely a benefit for buying precious metals. The strength that the dollar is getting due to Trump's victory has put pressure on the rupee and the gold rates have continuously come down. In this time's export and import figures also, the import of gold and silver has decreased respectively.
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