Gold-silver prices are shocking. While global tension is at its peak amidst the ongoing war in the Middle East, on the other hand, the prices of precious metals Gold and Silver are seen falling instead of rising. As soon as the stock market opened on the first trading day of the week, there was a stock market crash, and gold and silver rates also crashed. Yes, people are surprised by the fall in the prices of these precious metals, which are considered a safe investment option amid deteriorating conditions. On Monday, silver slipped by Rs 7,500 or 2.53 per cent, while gold also became cheaper by more than Rs 1800 per 10 grams.
Silver Big fall in price again
First of all, let’s talk about the sudden fall in the price of silver, the futures price of silver of Multi Commodity Exchange with expiry of May 5 had closed at Rs 2,68,285 per kg on Friday, the last trading day of last week, but as soon as it opened, it fell sharply to Rs 2,60,743. If we look at it accordingly, in one go 1 Kg Silver became cheaper by Rs 7,542. At the same time, the silver rate is now Rs 1,59,305 less than its high of Rs 4,20,048 on January 29.
Gold rate also slipped as soon as it opened
not only price of silverIn fact, even gold has slipped. If we look at MCX Gold Rate, gold with expiry of April 2 had closed at Rs 1,61,634 per 10 grams on Friday. Whereas on Monday it fell to Rs 1,59,826 as soon as it opened. That means 10 Gram 24 Karat Gold became cheaper by Rs 1808. If compared to the high of this precious yellow metal, the gold rate had also reached its life time high level of Rs 1,93,096 per 10 grams on January 29, from where it is still cheaper by Rs 33,270.
Why are you breaking up even in the midst of war? Sleep-Silver?
Generally, whenever global tension increases in the world, investors run towards gold and silver as a safe haven. In these circumstances, there has been a rise in gold-silver rates, but at present the situation seems different and even amidst global tension, gold and silver prices are falling. Regarding this, some experts believe that before the war, there was a sharp rise in the prices of gold and silver and they also rose rapidly in the initial phase of the war. But now investors are booking profits from this also and are preferring to keep cash with them, due to which their prices have fallen.
(Note- Before making any investment in gold-silver or gold-silver ETFs, please consult your market experts.)
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