Vikrant Shekhawat : Apr 02, 2021, 06:52 AM
Delhi: On the first day of the financial year 2021-22, there has been a sharp rise in gold. On Thursday, silver along with gold also spread their luster. On April 1, gold became costlier by Rs 881 to Rs 44,701 per 10 grams. Similarly, silver saw a spurt of Rs 1,071. Silver rose to Rs 63,256 per kg on Thursday.In fact, on 1 April, the stock market recorded a great boom. The Sensex was able to close above 50 thousand by climbing 520 points. While the Nifty gained 176 points to close at 14,867. Along with the strengthening in the stock market, gold and silver prices saw a huge rise.Prior to this, gold has given a negative return of 11% on MCX between January and March-2021. While gold has given a negative return of 10 per cent on COMEX. At the same time, looking at the return of 1 year, gold has given a positive return of 3% on MCX, while 5% has been given on COMEX.At the same time, silver has given a negative return of 6% on MCX between January and March. While silver has given a negative return of 8% on COMEX. On the one-year graph, silver has given a positive return of 60% on MCX while 66% has been given on COMEX.
FY 2021 has been very volatile due to the Corona crisis. When the stock market gave a shock to the investors in the beginning of the financial year 2020-21, people started looking for the option of safe investment. Which led to a heavy investment in gold.Anyway, whenever there is a cloud of economic crisis in the country, then investment in gold has increased as a safe investment. During the Corona crisis last year, the price of 10 grams of gold on MCX reached an all-time high of Rs 56191 during August-2020. From where gold has broken up to about 25 per cent.Significantly, the highest level of silver is Rs 79,980 per kg. Accordingly, silver is more than Rs 16000 cheaper than its highest level. In the last one year, silver has given more returns to investors than gold.
FY 2021 has been very volatile due to the Corona crisis. When the stock market gave a shock to the investors in the beginning of the financial year 2020-21, people started looking for the option of safe investment. Which led to a heavy investment in gold.Anyway, whenever there is a cloud of economic crisis in the country, then investment in gold has increased as a safe investment. During the Corona crisis last year, the price of 10 grams of gold on MCX reached an all-time high of Rs 56191 during August-2020. From where gold has broken up to about 25 per cent.Significantly, the highest level of silver is Rs 79,980 per kg. Accordingly, silver is more than Rs 16000 cheaper than its highest level. In the last one year, silver has given more returns to investors than gold.