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Gold Price Review: This week saw a big change in gold and silver prices. Gold in bullion market Rs. 249 per 10 grams, while silver prices rose by Rs. 3248 per kg was increased. According to data provided by IBJA, gold was at Rs.58471 while silver closed at Rs.70447 in the bullion market on August 18.
On Friday, the last trading day of the week, 24 carat gold closed at Rs 58,720 per 10 grams and silver at Rs 73,695 per kg. Earlier on Thursday, gold closed at Rs.58734 and silver at Rs.73667.
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“Gold prices on the Comex (commodity market) eased from their two-week high on strength in the dollar index,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities. Now to Federal Reserve Chairman Jerome Powell’s main point. A speech at the Jackson Hole Symposium…where he is expected to hint at the interest rate outlook.
Silver has jumped 13 times compared to gold in a week
Silver moved 13 times faster than gold in the last one week. Silver, which was selling at Rs 70,447 per kg a week ago, touched Rs 73,695 in just 5 trading days. That is a total of Rs. A jump of 3248 per kg was recorded. While during this period the price of gold has increased by only 249 rupees per 10 grams.