Gold makes history: price closes at Rs 48,000 on first day of lockdown-4, silver rises by Rs 2,480

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New Delhi, 18 May 2020 Monday

The stock market is buoyed every day, while gold-silver, on the other hand, is witnessing a glittering rise, with the price of 10 grams of gold hitting an all-time high of Rs 47,067 on Friday.

The record was broken today, with 24 carat gold jumping by Rs 881 to Rs 47,948 per 10 grams, while silver surged by Rs 2,480. The India Bullion and Jewelers Association website (ibjarates.com) keeps updating its price.

Gold reached its peak for the first time on April 9, breaking the record in just four days, and on April 13, gold reached Rs 46034 per 10 grams, setting a new record at an all-time high. But it also broke down on April 15, and the price of 10 grams of gold fell to Rs 46,928 and gold continued to make new highs every day.

It is worth mentioning here that the price of gold has risen due to the negative news coming from the United States, and it will continue for the next few months, gold may even cross 51 thousand in the next few months.

Why gold prices are rising

According to experts, the main reason for the rise in gold and silver prices is the rising number of cases of corona infection. In addition, rising tensions between the US and China and a sharp fall in the stock market are also affecting the price of gold.

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