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Gold Price lockdown crisis; Find out what is the gold-silver price before Gudi Padwa

Story Highlights
  • The effect of lockdown on Gudi Padwa this year
  • Pressure on gold and silver prices
  • Gold down by Rs 10,000 from record highs

Restrictions are in place in the state till April 30 due to the corona outbreak. Bullion traders have also closed their shops during this period. So this year Gudi Padwa is likely to go dry for consumers and professionals. Meanwhile, commodity markets saw pressure on gold and silver on Monday. An association of bullion traders has demanded relaxation of restrictions for Gudi Padwa.

At present, gold is trading at Rs 46,508 on the Multi Commodity Exchange, down by Rs 85. Silver also declined by Rs 189 to Rs 66,794 per kg.

Also Check: Sensex down by 1400 points: Second wave of corona; Sensex – Nifty falls sharply, investors panic

The previous session also saw a big drop in silver on Friday. The price of one kg of silver stabilized below Rs 67,000. At the close, silver fell by Rs 540 to Rs 66,961 per kg. Earlier, silver had declined to Rs 66,371.

On the one hand, the number of corona patients in the country is increasing rapidly. As a result, many states have implemented strict lockdowns except for essential services. According to figures released by the Ministry of Health, 1 lakh 69 thousand 914 crore infected patients have been found in India in the last 24 hours. In the same 24 hours, 904 deaths were recorded. At the same time, the total number of coronary heart disease patients in the country has reached 1 crore 35 lakh 25 thousand 379. So far, a total of 1 lakh 70 thousand 209 citizens have lost their lives due to corona.

However, gold prices have declined in the global market. Gold is trading at १७ 1740.57 an ounce. It fell 0.2 percent. Silver is trading at. 25.19 an ounce. It has declined by 0.2 percent. According to commodity analysts, investors are pulling out of gold as the US and Chinese economies recover.

According to the Goodreturns website, the price of 22-carat gold in Mumbai today is Rs 44,720 while the price of 24-carat gold is Rs 45,720. The price of 22-carat gold in Delhi today is Rs 45,670. Gold for 24 carats is priced at Rs 49,820. Today, the price of 22-carat gold in Chennai is Rs 43,780 and 24-carat gold is Rs 47,760. In Kolkata, 22-carat gold is priced at Rs 45,870 and 24-carat gold is priced at Rs 48,570.

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