There was a big change in the prices of gold and silver in the domestic bullion market on Thursday. While there has been an increase in the prices of gold amid continuous fluctuations, the sudden sharp fall in the price of silver has surprised investors and businessmen. After the rise in the market on Wednesday, a rise in gold prices was seen again on Thursday, which has further strengthened the interest among investors towards gold. On the other hand, the fall in silver prices has created a situation of instability in the market.
What is the reason for the rise in gold?
According to experts, the main reasons for the increase in gold prices are considered to be the strength in the international market and change in import duty. Amidst global economic uncertainties, investors are turning to gold as a safe investment, due to which its demand has increased. A slight but steady increase is being seen in the prices of 24 carat gold in the domestic market. Demand from festivals and wedding season is also supporting this growth.
Concern due to big fall in silver
Unlike gold, there has been a sharp decline in the prices of silver. There is an atmosphere of concern among traders and investors due to falling prices in a single day. Experts say that lack of industrial demand and weakness in the international market could be the main reasons for this. Silver is generally purchased for both industrial use and investment, so movements in global demand have a direct impact on its prices.
increased market volatility
Volatility has increased in the bullion market due to the opposite trend in the prices of gold and silver. While on one hand investors are looking for safe investment in gold, on the other hand the fall in silver prices has alerted short-term investors. Analysts believe that in the coming days, there may be further fluctuations in the prices of both the metals based on global cues and movement of the dollar.
What signals for investors?
Market experts are advising that investors should avoid taking hasty decisions at this time. Gold is considered a safe investment for the long term, whereas silver has more fluctuations, which also increases the risk.
