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Gold and silver prices: 25% gold price in 2020, today futures price again

Gold and silver futures have risen in the Indian market today in line with the global market. On the MSX, February futures rose by Rs 100 to Rs 50,626 per 100 grams, while silver futures rose by Rs 1,700 to Rs 9,600 per kg.

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Gold prices have been trading in a limited range for the past two weeks. The incidence of coronavirus has increased in some parts of the world, during which time the vaccine was approved. Gold gained 0.7 percent in the previous session, while silver was flat.

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Prices are so high in the global market

Today, gold prices in the world market have reached near two-month highs. This was supported by a weaker dollar and gold was affected by the rise in the number of new coronaviruses worldwide. On the spot market, gold rose one percent to 9 1,917.76 an ounce. Among other precious metals, silver rose 2.4 percent to $ 2.96 an ounce and platinum was 0. Palladium rose 0.6 percent to ল 2,4614.99, up 0.6 percent.

Gold traders will wait for the results of the two Senate seats this weekend. On Tuesday, Georgia will hold a run-off election for two seats in the U.S. Senate that will determine control of the chamber. Also this week, the minutes of the Fed meeting will be released on Wednesday and U.S. unemployment figures will be released on Friday.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund or gold ETF, rose 0.06 percent to 1,170,744 tonnes on Thursday. Gold ETF is based on the price of gold and its price decreases with subsequent price fluctuations. The influx of ETFs reflects weak investor interest in gold.

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In 2020, gold will increase by 25 percent

Gold has benefited from large-scale stimulus in 2020 to offset the economic impact of the corona. In India, gold is below its August high, at Rs 56,200 per 10 grams, though by 2020 it has risen 25 per cent. Gold is seen as a hedge against inflation and currency depreciation. Speaking of silver, it has risen 50 percent.

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