Gold And Silver Prices in India: The Gold prices in India have fallen to an eight-month low witnessing a sudden hike in sales of the precious metal.
According to the experts, the development has come on the back of the rise in the US Treasury yield and a stronger dollar, optimism over the economic stimulus package, and the Covid-19 vaccination drive.
The Gold prices in India hit an eight-month low. The Gold prices declined marginally by Rs 19 to Rs 46,826 per 10 gram on Monday while the Silver witnessed a surge of Rs 646 to Rs 69,072 per kg from Rs 68,426 per kg on the first day of the week.
The Silver prices in India continued the rise on Tuesday as the metal gained Rs 95 to Rs 69,530 per kg despite the rates being flat in the international market.
The Gold gained in the international market on Tuesday but Indian markets witness the precious metal prices plunge Rs 9 to Rs 46,900 per 10 gram.
Meanwhile, people have started buying Gold due to the fall in rates. As reports that the sales have witnessed a surge as people are buying coins, bars, and jewelry because of price correction.