Gold and silver: yellow metal crossed 48 thousand, silver became expensive by Rs 154

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Today, the price of gold and silver rose in the national capital. In the national capital, the yellow metal rose by Rs 95 to Rs 48015 per 10 grams. According to HDFC Securities, the yellow metal had closed at Rs 47920 per 10 gram in the previous trading session. Gold became cheaper due to the trend in the global market and the fall in the rupee against the dollar.

Silver became costlier by Rs 154

Talking about silver, it rose by Rs 154 to Rs 70,998 per kg. Silver had closed at Rs 70,844 on the previous trading day. In the international market, gold reached $ 1,882 an ounce, while silver remained flat at $ 27.67 an ounce.

Investment opportunity in gold

From today, the government has given the public a chance to buy gold at cheaper rates. Investors can buy gold at a much lower price than the market price under the Sovereign Gold Bond Scheme. The scheme will be open for only five days (from 24 May to 28 May). That is, today is its first day. Under the scheme, you can buy gold at 4,842 per gram. That is, if you buy 10 grams of gold, then it costs Rs 48,420 and if the gold bond is purchased online, then the government gives an additional rebate of Rs 50 per gram to such investors. In this, payment for applications has to be made through 'digital mode'. For buying gold online, investors will have to shell out Rs 4,792 per gram of gold. In this case, you will get 10 grams of gold for Rs 47,920.

Investors are increasing investment in gold

Investors are increasing investment in gold amid the uncertain economic environment due to the second wave of the Coronavirus epidemic. In April, Rs 864 crore was invested in the Gold Savings Fund and the Gold Exchange Traded Fund (ETF). According to Morning Star India data, the Gold Savings Fund and Gold ETFs have a net inflow of Rs 184 crore and Rs 680 crore, respectively, in the month of April. According to the data, an investment of Rs 3,200 crore was invested in the Gold Fund in 2020-21 while more than Rs 6,900 crore was invested in Gold ETFs.

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