Gold and silvers are trading lower in bullion markets this week. The price of 22-carat gold has dropped to ₹46,220 per 10 gram. However, silver slid to ₹67,600 per kg. The prices of gold were ₹47,350 per 10 gram and silver were ₹67,600 per kg,as per friday. For 24-carat gold, on the other hand, prices became a bit cheaper, by around ₹1,762 per 10 gram, and reached ₹47,220 for the same weight on Monday.
This is the first time in three decades the gold prices are the lowest. A Reuters news reported, citing local dealers, warned that the demand for gold is unlikely to return to normal levels soon since most jewelry stores in the country are witnessing less than average footfall in view of the coronavirus disease (Covid-19) situation.
On the other hand, silver price had a drop of ₹2,700 and currently resides at ₹67,600 per kg, from its earlier rate of ₹70,300 for the same weight.