Gold and silver prices have been fluctuating for a long time. The highest gold price in the last five months was 53,550 and the lowest was 45,600 in March and the current gold price is around 50,300. However, traders are still speculating that gold prices may rise in the near future. But gold and silver prices are fluctuating. The reasons behind this are the rise in international crude prices, rising unemployment rates in the US and other countries, as well as the upheaval in cryptocurrencies.
The closure of refineries producing gold in the international market has led to a gap in demand and supply of gold. At the same time, the demand for gold in the country has declined this year due to Corona not buying as much gold as it should at weddings.
The closure of a refinery producing gold in the international market has led to a gap in demand and supply of gold. This time around, the demand for gold in the country has declined due to the Corona not buying as much gold as it should at weddings and the local rupee has weakened against the dollar, leading to continuous fluctuations in gold and silver prices. The highest price of gold in the last five months was 53550 and the lowest price was 45600 in March. Today, the gold price was 50,300, though traders are still speculating that the price may rise in the near future.
Mumbai gold price was Rs 711 to Rs 711 yesterday, while the price of 8.50 to Rs 200 was Rs 30 to close at Rs 705.