Gold and silver became expensive due to fall in dollar and expectation of US relief package, know how much the prices
new Delhi. Last week saw an increase in the price of gold and silver. The reason for this was the rise in the price of gold and silver in the international market. According to experts, the most reason for the price of gold and silver in the past week was the weakness in the dollar and the expectation of an early US economic package. Talk about the figures, in the domestic futures market, gold has risen by Rs 650 and silver has increased by Rs 2500. According to experts, it is possible to announce the economic package soon due to Donald Trump’s recovery from Corona. In such a situation, the price of gold and silver will also increase.
Gold prices rise in futures market
Firstly, in the domestic futures market, gold has risen by Rs 650 per ten grams in the last one week. On Friday, there was a tremendous rise in the price of gold. Gold has gained Rs 642 per ten grams to close at Rs 50,817 per ten grams. Whereas for the past few weeks, there was a slight decline in the price of gold. Due to which the price was in the range of 49 to 50 thousand rupees per ten grams.
Silver price also increased
At the same time, there has been a tremendous increase in the price during silver. Last week, the price of silver has increased by Rs 2,500 per kg. After which the price of silver rose to Rs 62,955 per kg on the last trading day of the week. Whereas on the last trading day, the price of silver is seen increasing by Rs 2436.
Increase in the price of gold in foreign markets
According to experts, the decline in the dollar and the expectation of an economic package in the US has seen gold and silver rise. US gold futures rose more than 2 percent to $ 1,925 an ounce. On the other hand, the dollar fell 0.7 per cent, raising expectations of Joe Biden’s victory in the US elections. Let us tell you that this year, the price of gold has increased by 26 percent so far.