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Saturday, 28 November 2020

Gold fell below Rs 50,000, fell by Rs 8,000 in two months, to Rs 56,200 in August

Discount: Gold fell below Rs 50,000, fell by Rs 8,000 in two months, to Rs 56,200 in August


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There has been constant good news about the corona vaccine. This has led to a downward trend in gold prices. On Friday, the price of 10 grams of gold fell to 48,185. So the price of 1 kg of silver had reached below Rs 60,000.

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According to a bullion market trader, both the precious metals are currently trading at record lows in August. On August 7, gold hit a record high of 56,200. 


Gold traded at 48,600 on the MCX on Thursday. Prices have seen a decline after a nearly 4-month rally. This decline has greatly increased the demand for gold from rural and urban areas.




On the
another hand, due to the wedding season, gold is being bought. Gold sales on both online and offline platforms are expected to grow as gold prices fall. 


According to the India Bullion and Jewelers Association, demand is on the rise and buying among consumers is on the rise as prices fall. People prefer gold as a long-term investment as the economy opens up.

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