Gold Price On 20th February: The trend of decline in gold and silver has stopped. On the first trading day of the week, the rate of both the precious metals saw a rise again. Till two days before today, those who bought gold and silver have benefited from this. Let’s know today’s latest price.
On Friday, silver fell below 65000 and gold reached the level of Rs 56,200. Now again it has started picking up pace. Market experts claim that gold is likely to reach Rs 65,000 and silver Rs 80,000 by Diwali.
Gold and silver rise on MCX
After the ongoing fall in gold and silver for the last few days, today the yellow metal opened with a green mark. Two weeks ago, gold reached Rs 58,000 and silver reached Rs 71,000 on the Multi-Commodity Exchange (MCX).
On Monday, silver rose by Rs 160 per kg to Rs 65791 per kg and gold rose by Rs 66 to Rs 56323. Earlier on Friday, silver had closed at Rs 56257 and Rs 65631 per kg.
Bullion market also booming
After Friday, a tremendous rise was seen in gold and silver on Monday. According to the price released by the India Bullions Association (https://ibjarates.com) on Monday, 24 carat gold rose by more than Rs 400 to reach Rs 56587 per kg.
A rise was also seen in the rate of silver and it climbed by more than Rs 1200 to reach Rs 65712 per kg. On Friday, gold had closed at Rs 56175 per 10 grams and silver at Rs 64500 per kg.
On buying gold, 3 percent GST and making charge have to be paid separately. If you buy gold today, you will have to pay both GST and making charges above the bullion market rate of Rs 56,587. On Monday, the rate of 23 carat gold reached Rs 56360 per 10 gram, 22 carat Rs 51834 per 10 gram and 18 carat reached Rs 42440 per 10 gram.