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There has been a tremendous decline in the price of gold in the last one week
Photo Credit : emirates247.com
Gold is currently at its lowest level in 3 months. Not only this, the price of gold has come down by more than Rs 1000 in just one week.
Actually, this week the atmosphere of the stock market has also been in decline. There has been a tremendous decline in the price of gold in the last one week. From the first trading day of this week on Monday, May 9, there was a fall in the price of gold. At the same time, the price of gold has also come down on the last trading day of the week i.e. Friday.
The biggest fall in the price of gold was recorded on 13 May 2022. On May 12, while the price of 24-carat gold closed at Rs 51,118 per 10 grams, on May 13 its price reached Rs 50,465 per 10 grams. That is, the price of gold fell by Rs 653 in one day's trading session. At the same time, on the last trading day of last week i.e. May 6, the closing price of 24 carat gold was Rs 51,692 per 10 grams. Compared to May 13, the price of gold has fallen by Rs 1,227.
Apart from the Indian market, there is an environment of decline in the price of gold in the global market as well. Gold is trading at its lowest level in three months in the global market. Dollar is on a good strength at this time, due to which the price of gold is showing sluggishness. This week the Indian rupee went to its lowest level against the dollar.