Gold futures prices fell for the second consecutive day in Indian markets today. On MCX, gold futures lost 0.07 per cent to Rs 47,475 per 10 grams, while silver futures rose 0.16 per cent to 68,600 per kg. Analysts say the improvement in gold prices could boost gold demand in India.
Gold rates also fell today in global markets. Gold spot slipped 0.3 percent to $ 1,820.73 an ounce. Other precious metals, silver fell 0.2 per cent to $ 26.89 and palladium at $ 2,344.38.
With the mobile app ‘BIS-Care app’ of Union Ministry of Consumer and Food, customers can check the purity of gold. Through this app, you can not only check the purity of gold but also make any complaint related to it. If the license, registration and hallmark number of goods purchased by you is found to be wrong, then customers can complain immediately.
Will gold prices increase in 2021?
Major central banks across the world have reduced this interest rate to almost zero and it will remain at the same level for at least another year. Also, to provide liquidity in the market, central banks are showing aggressive attitude. All these will have an impact on the economy and this will increase the prices of gold. Liquidity push will increase gold prices worldwide.