Gold prices fluctuated sharply just hours after Russia launched an offensive against Ukraine yesterday. Gold fell by Rs 1,136 per razor to Rs 38,472 per razor yesterday.
Gold prices have been on the rise since the beginning of 2020. Since every day was a new high, on August 7, 2020, a pound traded at Rs.43,328. This was seen as an unprecedented high in the price of gold. It was followed by a slight decline in the price of gold. Its price continued to fall and started rising again on January 4 last year (2021).
A pound was sold for Rs 38,520 that day. Since then, it has risen again on January 6, crossing Rs 39,000 a pound. Subsequently, the price of gold began to fall. Although prices continued to decline, there were occasional price increases. Earlier this year, a pound of gold stood at Rs 36,472 and continued to fluctuate.
Gold prices have risen sharply since last week, as Russia could launch an immediate offensive against Ukraine. Gold prices fluctuated sharply just hours after Russia launched an offensive against Ukraine the day before yesterday. The gram traded at Rs 232 per gram and Rs 1,856 per pound at Rs 4,951 and Rs 39,608 per gram, respectively, in the previous session. Gold prices rose by Rs 1,856 to the pound in a single day yesterday.
In this situation, the price of gold fell slightly yesterday. The 22-carat gold razor traded lower by Rs 1,136 to Rs 38,472. It fell by Rs 142 to Rs 4,809 per gram. Silver fell by Rs 2.70 per gram to Rs 70. Gold and silver prices have fallen sharply in response to world sanctions imposed on Russia.