Gold loans act as a saviour for many in need of money, especially for those who do not have a stable job or a muted credit score
In the international market, gold was trading with gains at USD 1,741 per ounce and silver was flat at USD 26.12 per ounce
"Spot gold prices for 24 carats in Delhi were up by Rs 105 reflecting overnight rally in global gold prices," said Tapan Patel, Senior Analyst (Commod
With economic activities reaching pre-pandemic levels, India Ratings expects the momentum to continue into FY22, backed by a softening of gold prices
Silver also looks bullish, considering its demand from green energy segment and automotive and electric vehicles and gadgets segments
Given its record of returns, gold is considered as one of the best-performing asset classes
Analysts believe the lower prices of gold and silver in physical markets is expected to push demand further.
The precious metal had closed at Rs 44,236 per 10 grams in the previous trading session
Gold prices have declined by over ₹12,000 per 10 gram from its highs of Rs 56,200 in August 2020
The precious metal had closed at Rs 44,976 per 10 grams in the previous trading session