Gold and Silver Prices Move in India
Listen to the story
Gold and silver prices in India have shown mixed movements in recent reports.
According to one report, gold prices rose by 967 rupees, reaching a new price of 1.55 lakh rupees.
Silver prices also increased. Silver went up by 2,439 rupees, taking the price to 2.33 lakh rupees per kilo.
The report noted that gold has become 22,000 rupees more expensive so far this year.
However, another report gave a different picture. It said gold prices actually fell around Janmashtami, a major Hindu festival.
In this second report, silver prices were close to 2.34 lakh rupees per kilo.
An expert commented on the market, offering views on how far prices could rise or fall in the near future.
Gold and silver are popular in India, especially during festival seasons. Many people buy these metals not only for jewellery but also as a form of investment.
Prices of gold and silver can change often. They depend on many factors, including global markets, demand during festivals, and the value of the rupee.
It is common in India to see gold and silver prices reported in lakh, a unit meaning 100,000, since prices are often very high.
Buyers and sellers watch these price changes closely, especially around big festivals like Janmashtami, when demand can affect the market.
Vocabulary11 words
- gold
- a shiny yellow metal; very valuable
- silver
- a shiny grey metal; valuable, but less than gold
- Janmashtami
- a Hindu festival day
- expert
- someone who knows a lot about a subject
- investment
- money put into something in hopes it grows in value
- lakh
- an Indian number word meaning 100,000
- demand
- how much people want to buy something
- market
- the buying and selling of goods, or the place where this happens
- jewellery
- items like rings and necklaces made from metals or stones
- rupee
- the currency used in India
- festival
- a special day or time of celebration
Quiz
Answer key
1. By 967 rupees 2. Gold prices fell 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Gold and silver prices in India have shown mixed movements in recent reports.
According to one report, gold prices rose by _____ rupees, reaching a new price of 1.55 lakh rupees.
Silver prices also increased. Silver went up by _____ rupees, taking the price to _____ rupees per kilo.
The report noted that gold has become _____ rupees more expensive so far this year.
However, another report gave a different picture. It said gold prices actually fell around _____, a major Hindu festival.
In this second report, silver prices were close to _____ lakh rupees per kilo.
An _____ commented on the market, offering views on how far prices could rise or fall.
Many people buy gold and silver not only for jewellery but also as a form of _____.
It is common in India to see gold and silver prices reported in _____, a unit meaning 100,000.
Discussion questions
- Why do you think gold and silver prices change so often?
- Why might people buy gold and silver during festivals like Janmashtami?
- Do you think gold and silver are good investments? Why or why not?
- How are prices for gold and silver reported where you live?