Knews Desk– There has been huge fluctuation in the prices of gold and silver in recent times. After the government’s decision to increase the import duty, there has been a huge movement in the prices of precious metals on the Multi Commodity Exchange (MCX). While gold prices have continued to rise, a sudden big fall has been seen in silver.
Sudden big fall in silver
Unlike gold, silver prices have seen sharp fluctuations. There was a strong rise in silver on Wednesday, but a sudden change in its trend was seen on Thursday. On the Multi Commodity Exchange, the price of silver fell by more than Rs 5,700 in a single day. On the previous trading day, the price of silver had closed at Rs 3,02,157 per kg, while on Thursday it fell to Rs 2,96,456 per kg.
Continuous rise in gold prices
A sharp rise in gold prices was seen after the import duty was increased from 6 percent to 15 percent. On Wednesday, gold had become expensive by about Rs 11,000 in a single day, although at the end of trading it closed with a gain of about Rs 8,000.
Gold prices continued to rise on Thursday also. In early trade, 10 grams of gold rose to beyond Rs 1.63 lakh. Overall, gold prices have increased by about Rs 9,613 per 10 grams in two days. It has increased from Rs 1,53,442 to Rs 1,63,055 per 10 grams. According to market experts, due to tax changes of the government and international demand, a rising trend is being seen in gold.
increased market volatility
Analysts say that both gold and silver are being influenced by global and domestic policies. There is confusion among investors due to changes in import duty, due to which sharp fluctuations in prices are being seen.
Market experts are advising investors that there may be volatility in gold and silver at this time. In such a situation, it is important to keep an eye on market trends and government policies before investing. While there is a continuous upward trend in gold, the sudden fall in silver has surprised the market. There is a possibility of further price fluctuations in the coming days, due to which investors need to remain cautious.
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