New Delhi. Gold-Silver Rate in India. Gold and silver prices have registered a major decline in the last one month. If you look at the gold-silver rate from August 6 till now, a big drop in the price has been recorded. The gold-silver price trend continues in August. If you look at the price of gold, between 6 August and 6 September, the price of gold has fallen by more than 5500 rupees.
Gold price declines
The price of gold has declined by about Rs 5500 in the last 1 month. On August 7, the price of gold with 24 carat purity reached Rs 56254 per 10 grams. The price of silver had reached Rs 76008 per kilogram. A month later, when the price of gold and silver was monitored, gold reached Rs 50,690 per 10 grams on September 6. The price of gold registered a decline of Rs 5564 per 10 grams within 1 month.
The price of gold as well as silver also registered a decline. The price of silver reached Rs 76008 per kilogram on August 7, while on Friday 4th September, it reached Rs 64437 per kilogram. The price of silver registered a decline of Rs 11571 within 1 month. If you look at the last one week, silver prices have seen a decline of more than Rs 1200.
Why gold price declines
Gold has always been a safe investment. In the Corona period, gold was chosen by investors as an alternative to safe investment. Due to heavy demand, the price has seen a strong increase. After the announcement on the Corona vaccine, investors ‘ attractiveness moved towards the stock market. The investors started withdrawing money from gold and re-entering the stock market. The demand for gold decreased as the stock market returned recovery. Due to which the price of gold declined. Investors began to sell for profitcollection, leading to a decline in the price of gold.