Gold, the Silver price took a hike today on April 11 on all the metro cities as the rates in the international markets have increased. The rates were dropping for the past few days and have seen a slight hike of Rs 10 across al the metro cities on Saturday morning.
Gold rates in Delhi have gone up by Rs 10 per 10 gram of 22 carats to rS 42,290 while on the other hand the rate of ten-gram of 24 carats is also hiked by Rs 10 Rs 44,260.
The price of silver has also increased by Rs 10 per kg and has taken the price to Rs 41,000.
The Indian Chamber of Commerce (ICC) says that the business of gold and silver depends more on matrimonial events. Due to this, the demand for gold or silver jewelry this year may be affected. Earlier this year, the demand for gold in the country was estimated to be around 700 to 800 tonnes, but due to Corona, everything has been affected. According to an estimate, the demand for gold in the country is around 850 tonnes in a year.
Even before the lockdown, there was a negative impact on the bullion market. After the lockdown, the financial condition of the gems and jewelry industry has also deteriorated.