Gold has rewarded its investors over the past year. In 2020, gold prices rose by Rs 10,962 per 100 grams, while silver was stronger than expected. In one year, silver has increased by Rs 20718 per kg. However, the price of gold is 6052 rupees less than the maximum price. Similarly, silver is ৮ Rs25 less per kg as compared to its previous high price. If experts are to be believed, investing in gold and silver could be profitable this year. Gold can reach 63000 and silver 85000.
Gold is still cheaper than ever at Rs 6052
|Metal||Rate of 3020 December 2020 (Rs / 10 gm)||August 2020 rate (Rs. 10)||
Rate change (Rs / 10 g)
|Gold 999 (24 carat)||50202||56254||-6052|
|Gold 995 (23 carats)||50001||56029||-6028|
|Gold 916 (22 carats)||45985||51529||-5544|
|Gold 750 (18 carats)||37652||42191||-4539|
|Gold 585 (14 carats)||29368||32909||-3541|
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In early 2020, gold was priced at Rs 39,100 per 10 grams and 1, 1,517 per ounce. However, on December 31, 24 carat gold closed at Rs 39,240 in the bullet market. The initial outbreak of the epidemic was short-lived and the amount of gold was Rs 36,400, but then gradually it rose to Rs 56,254 per 10 grams. Silver also reached Rs 76,008.
In 2020, there was a move for gold and silver
|DhaYou||Rate of 3020 December 2020 (Rs / 10 gm)||Rated as on 31st December 2019 (Rate / 10g)||
Rate change (Rs / 10 g)
|Gold 999 (24 carat)||50202||39240||10962|
|Gold 995 (23 carats)||50001||39083||10918|
|Gold 916 (22 carats)||45985||35944||10041|
|Gold 750 (18 carats)||37652||29430||8222|
|Gold 585 (14 carats)||29368||22995||6373|
|Silver 999||67383 / kg||46665 / kg||20718 / kg|
Gold is back 27.7 percent this time
In the last ten years, this time gold has returned 27.27 percent. Earlier, in 2011, gold returned about 31 percent to investors. At the same time, gold prices in the international market have risen by more than 23 percent. At this point, silver investors cut a lot of silver. More than Rs 76,000 per kg was sold in the cheap market.
Read more: Higher return on investment is possible if the stock market is at the top
Why gold prices will rise
- The dollar may weaken due to the new stimulus and as a result gold prices may rise again.
- Gold will remain attractive to investors due to inflationary pressures due to large-scale stimulus.
- In 2021, the demand for gold from India and China will be significant, which has been weak for the last few years and may rise again.
- Comax’s gold price can be between Rs 2,150-2,390 per ounce, and MMS’s gold price can be between Rs 57,000-63,000.
- The Covid-19 vaccine in 2021 will add a low interest rate, a boom in the equity market and gold-silver luster bought in ETFs.
- Investors have no choice but to invest. This will increase the price of gold and silver.