Know why gold and silver became expensive today, check the latest rates before buying

Gold Silver Prices On 23rd December 2021: On Thursday, there is a rise in the rates of gold and silver in the bullion market. Due to the weakness in the dollar, there is a rise in the price of gold. At the same time, the effect of the new variant Omicron of Corona is also being seen on the demand and price of gold.

Gold-Silver rise

In futures trading on MCX, gold is trading at Rs 48,306 per 10 grams with an increase of 0.22 percent i.e. Rs 107. On the other hand, if we look at the price of silver, silver is trading at 62,309 kg with an increase of 0.19 percent i.e. Rs 109.

why the price increased

Due to the weakness of the dollar, fear of Omicron, the pace of economic growth around the world is expected to slow down. Due to which the demand for gold has increased. This is the reason why gold prices have jumped. At the same time, due to rising inflation, there has been an increase in the demand for gold. Central banks around the world are indicating to increase the interest rate, due to which investors are buying gold to hedge.

Due to the rise in gold prices, there is a rise in the demand for gold in the last few days. The demand for gold has also increased in view of Christmas shopping. However, if experts are to be believed, due to the long holidays of Christmas and New Year, the prices are not expected to rise much at the moment.

check gold purity

Before buying gold it is also necessary to check its purity. Nowadays many traders sell gold by adulteration, due to which the customers have to suffer. At present, for relief from this, the Central Government has created an app, through which you can check the purity of gold. Apart from this, you can also complain through this app.