The jewelery market is in crisis as gold prices fluctuate. The price of a gram of gold rose to Rs 40,560 as the gram rose by Rs 130 and a sovereign by Rs 1,040 yesterday morning. But in the afternoon the market showed change. 4980 per gram and Rs. 39840 per sovereign.
The fall in global markets in the wake of the Russo-Ukraine war has turned gold into a more credible investment. If the war continues, prices may rise again. The crisis in the jewelery market with the rise in prices is not small. No one comes to the shop now to buy gold except for essentials including marriage. But the number of people coming to sell and exchange gold has increased.
After the crisis over Kovid, the market became more active and prices fell. Prices have risen sharply since the lockdown following Kovid in 2020. As the Kovid crisis eased, the price of a sovereign fell below 32,000. According to market analysts, the market is likely to continue to grow in the coming days. After 2020, the price will cross 40,000.
English Summary: Gold prices soar; Recession in the jewelry market
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