New Delhi: Gold and silver prices fell for the third consecutive week. Gold and silver fell sharply in the domestic stock market on Friday due to weak economic data and global growth crisis. The price of 10 grams of gold has gone below 46,000. Gold futures in October on the Multi Commodity Exchange (MCX) fell 0.29 per cent. Silver fell 0.36 per cent per kg in December futures.
28 per cent of urban Indians are planning to invest in gold in the next three months. This indicates a renewed demand for gold in case the impact of the second wave of coronavirus eases. This information was given in a survey. On the Multi Commodity Exchange (MCX), the price of 10 grams of gold fell by Rs 134 to Rs 45,922 on Friday. The price of gold in the international markets was $ 1746.84 an ounce. At the same time, the December futures silver on MCX fell by Rs 220 to Rs 60,569 per kg. Silver was trading at $22.61 an ounce in the international markets.
In 2020, the gems and jewelery industry indicated a recovery in January-March this year due to corona restrictions. However, the second wave of the pandemic stopped it. As the second wave weakens, state governments are gradually easing movement restrictions and organized retailers expect consumer demand to improve during the festive season this year.