New Delhi, 4/4: The glitter of gold and silver has started once again. This week, gold has gone up by 449 rupees to Rs 44,919. At the start of this week, gold was at Rs 44,468. However, silver has seen very little uptrend. Silver has risen by Rs. 54 to Rs. 63737 this week.
Manoj Kumar Jain, director of Prithvi Finmart, says that the second wave of Corona has come once again in the country and the world. In such a situation, there may be an increase in gold in the long term. According to him, by the end of the year, the price of gold can reach 48 thousand rupees. You can understand this trend in such a way that in the beginning of March, gold had come down to 44 thousand, but now the prices have increased once again.
Gold consumption in the country is increasing rapidly. Gold import in the country has increased by 471% to 160 tonnes in March this year as compared to last year. The main reason for this is the fall in gold prices from record highs and the reduction in import duty. In the January-March quarter this year, a total of 321 tonnes of gold was imported into the country, compared to only 124 tonnes in the same quarter last year.
India consumes 700–800 tonnes of gold every year, of which 1 ton is produced in India and the rest is imported. The country’s gold imports stood at 344.2 tonnes in 2020, down by 47% from the previous year. In 2019 it was 646.8 tonnes.