More fall in Gold and Silver Price 2013 India

Fall in price of silver and gold was continuing on Tuesday. It was just Rs. 26,440 per 10 gm with fall of Rs.1160. It is the lowest cost of gold in last 21 months. Along with this, silver price was also down by Rs.1875 and stopped at Rs.46125 per kg. The selling of both the metals has increased by the effect of this low cost. President of Delhi bullion well fare association Mr.VK Singh has stated that the price is down in domestic market is down due to fall in price of gold and silver in the international market.

In last three business days in Delhi the price of gold is down by Rs.3160. Domestic market price on 12th April was Rs.29600 and price hike in gold price in International market was high by $34 and stopped on $1386 per ounce but price on 15th April was $1352.

Everyone is attracted to gold in our country and India is the largest importer of gold around the globe. Its price is down by minimum level of last two years. Now people can fulfill their wish of buying gold jewellery. Many people are ahead in investing and purchasing of gold jewellery.

According to sources it is a rare case of such fall in price in last 8-10 years. The yellow metal price is upto 25% down and experts have indicated many reasons behind this.

Global need of gold in tons:

  • In Year 2011- 4582
  • In year 2012- 4405
  • 4% degradation

Total investment in tons:

  • In year 2011- 1700
  • In Year 2012- 1534
  • 10% degradation

Domestic need in tons:

  • In year 2011- 986
  • In year 2012- 864
  • 12% degradation

According to world council the need of gold is down in global level as well as in domestic level.

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17th, Apr 2013 3:02 PM
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