Gold and Silver price review last year 2020 & how it will be in 2021
Over the most recent one year, gold has compensated its financial specialists. In the year 2020, gold rose by Rs 10962 for each 10 grams, while silver was more grounded than anticipated. Silver picked up Rs 20718 for each kg in one year. Nonetheless, gold is as yet less expensive by Rs 6052 than its greatest cost. Also, silver is less expensive by Rs 8625 for each kg than its earlier year’s excessive cost. In the event that specialists are to be accepted, at that point interest in gold and silver can be beneficial this year. Gold can arrive at 63000 and silver 85000.
Gold is still cheaper by Rs 6052 from all time high
|Metal||Rate of 31 December 2020 (Rs / 10g)||Rate of 7 August 2020 (Rs / 10g)||Rate change (Rs / 10g)|
|Gold 999 (24 carat)||50202||56254||-6052|
|Gold 995 (23 carat)||50001||56029||-6028|
|Gold 916 (22 carat)||45985||51529||-5544|
|Gold 750 (18 carat)||37652||42191||-4539|
|Gold 585 (14 carat)||29368||32909||-3541|
Also read: Investing in the stock market, real estate, gold will soon fulfill your dreams, bring diversity in your portfolio
In early 2020, gold was priced at Rs 39,100 per 10 grams and US $ 1,517 per ounce. However, on 31 December, 24 carat gold in the bullion market closed at Rs 39240. The initial setback for the epidemic was short-lived and gold came to Rs 38,400, but after that it gradually increased to Rs 56,254 per 10 grams. Silver also reached 76008 rupees.
Such was the move of gold and silver in the year 2020
|DhaYou||Rate of 31 December 2020 (Rs / 10g)||Rate as on 31 December 2019 (Rs / 10g)||Rate change (Rs / 10g)|
|Gold 999 (24 carat)||50202||39240||10962|
|Gold 995 (23 carat)||50001||39083||10918|
|Gold 916 (22 carat)||45985||35944||10041|
|Gold 750 (18 carat)||37652||29430||8222|
|Gold 585 (14 carat)||29368||22995||6373|
|Silver 999||67383 Rs / Kg||46665 Rs / Kg||20718 Rs / Kg|
Gold returned 27.7 percent this time
This time in the last 10 years, Gold gave 27.7 percent returns. Earlier, in 2011, gold gave a return of about 31 percent to investors. At the same time, the price of gold rose more than 23 percent in the international market. During this time, silver investors cut a lot of silver. Silver sold more than Rs 76000 per kg in the bullion market.
Also read: Higher returns on investment possible if stock market is at peak
Why gold prices will increase
- The dollar may be weakened due to fresh incentives and this may cause gold prices to rise again.
- Gold will remain attractive to investors due to inflationary pressures due to large-scale incentives.
- Gold demand from India and China will be significant in 2021, which has been weak for the last few years and may once again pick up.
- The price of gold on Comax can be between $ 2,150-2,390 an ounce, while gold on MCX can be between Rs 57,000-63,000.
- Kovid-19 vaccine in 2021, low interest rate, equity market boom and buying in ETFs will add gold-silver luster.
- Investors have no other option in terms of investment. This will see the rise in the prices of gold and silver.