Gold & Silver Prices Surge This Diwali

by GoNews Desk 3 weeks ago Views 1409
Gold & Silver Prices Surge This Diwali
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This year, the prices of gold and silver are touching record highs. The price of 10 gm gold this year has crossed Rs 39,000, while last year, the same amount of gold was selling at Rs 31,809. This hike is being seen at a time when the rupee has strengthened against the dollar.

Last Diwali, on the occasion of Dhanteras, the price of 10 gm 24-carat gold was Rs 31,809 which rose to Rs 39,385 this year. This means that compared to last year, this year there was an increase of Rs 7,577 in the price of 10 gm 24-carat gold.

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The same applies to silver too. Last year, on Dhanteras, the price of 1 kg silver was Rs 38,649 which has risen to Rs 46,520 this year. This means that this Diwali, there has been an increase of Rs 7,871 in the price of 1 kg silver.

What is striking is that this increase has happened at a time when compared to last year, the rupee has strengthened against the dollar this year on Diwali.

Last year, on Dhanteras, the price of $1 was Rs 72.87, while this year, the price of $1 is Rs 70.98. This means that compared to last Dhanteras, the rupee has strengthened against the dollar by Rs 1.89.

Similarly, last Dhanteras, the price of 1 euro was Rs 83.6 while this year, the price of 1 euro is Rs 78.89. This means that the rupee has strengthened against the euro by Rs 4.14.