Gold Silver Price Today: Despite the increase in international prices, gold prices in the domestic market have fallen for the third day. Gold has become cheaper by Rs 264 per ten grams in the Delhi bullion market. At the same time, the price of silver has increased marginally by Rs 22 per kg during this period.
New Gold Price (Gold Price, 8 September 2021)
In Delhi’s bullion market, gold prices of 99.9 per cent fell by Rs 264 to Rs 46,140 on Wednesday. Earlier Tuesday, prices had closed at Rs 46,404 per ten grams. However, after the initial decline, there was a recovery in gold prices in the international market. Gold finally closed at $1,800 an ounce.
New Silver Price (Silver Price, 8 September 2021)
Unlike gold, there has been a slight increase in the prices of silver in the domestic market. On Wednesday, silver prices increased by Rs 22 per kg in the Delhi bullion market. Silver prices have increased from Rs 63464 per kg to Rs 63486 per kg. Internationally, the cost of silver has reached $ 24.37 an ounce.
Why Gold Silver Price down sharply
HDFC Securities, Senior Analyst (Commodities), Tapan Patel, says a recovery after the initial fall in gold prices in the overseas markets. However, the trend in the domestic market remains weak.
Know who has the most gold in the world
Gold reserves or gold reserves are gold kept with the central bank of a country. Central banks make this purchase to protect the country’s money in times of crisis and return people’s money when needed.
Let us understand this with this example. Former Prime Minister Chandrashekhar was the Prime Minister of the country for seven months, from November 1990 to June 1991.
When Chandrashekhar became the Prime Minister, the economic condition of the country was terrible. Former Prime Minister Rajiv Gandhi had been assassinated. The political situation was also unstable.
India’s economy was stuck in a payment crisis. At the same time, the Reserve Bank had decided to take a loan by pledging 47 tonnes of gold. America comes on top of this list.
The World Gold Council has said that America currently has 8133.5 tonnes of gold. Germany comes second on this list.
At present, Germany has 3362.4 tonnes of gold. Italy comes at number three. As of March 31, 2021, they have 2451.8 tonnes of gold. India comes at number nine on this list. At present, India has 695.3 tonnes of gold.