Over the past week, both precious metals have also risen sharply at the domestic level. In the MSX futures market, gold rose by Rs 111 to Rs 50,244 per ten grams last week. The gold mini was quoted at Rs 50,266 per ten grams at a weekly strength of Rs 479.
The yellow metal also gained momentum in the international market. On the weekend, the gold spot closed at 1, 89,898.80 per ounce, shining at 42.40. February gold futures rose 19 to 1, 1,901.60 an ounce. Silver spot strengthened by $ 0.58 during the week and closed at .4 26.42 an ounce on the weekend. At the domestic level, Silver rose by Rs 14 per kg to Rs 6,123 per kg and Silver Mini MCX by Rs 5,569 per kg to Rs 68,68,047.
The bank is providing these facilities to the customers of SBI from door to door, there is no need to visit the branch
Gold will burn in the long run
According to Reuters, the weakness of the dollar has led to a focus on equities in the hope of getting the Covid-19 vaccine and recovery in the economy. This could further reduce the price of gold. Anuj Gupta, vice-president (commodities and currencies) at Angel Broking, said global gold prices were falling due to positive news about the corona vaccine. Despite this, at the current low level, gold could reach Rs 57,000 to Rs 60,000 per 10 grams in the next one year. He says investing in gold in the long run is a lucrative deal. However, they also say that a thorough investigation should be carried out before investing.