The price of gold slid after reaching a peak of Rs 56,000 per 10 gram the week before. Compared with the gold price on August 7, the rate of the yellow metal has fallen by Rs 3,252 between August 10 and August 14. Other than Russia’s Covid-19 vaccine announcement, a strengthening gold index has been another reason for the decrease in gold and silver prices. A buzz about another economic package in countries, including India and the US, has also increased the pressure on gold and silver prices. The price of gold can go back below Rs 50,000 per 10 gram and, at the same time, silver prices can reach Rs 60,000 for a kilo again.

Source: Hindustan Times August 15, 2020 10:20 UTC