Factors such as differences in interest rates and treasury income also affect the price of gold. Despite the uncertainty over the Russo-Ukraine war, investors have seen gold as a safe haven in recent days, citing lower dollar appreciation.
Gold prices had touched $ 2,070 an ounce on March 8 following Russia’s occupation of Ukraine. That price has dropped below $ 1,900 in recent days. At the same time, observers point out that gold may shine as an investment in the face of rising inflation.
Will prices fall temporarily?
Many parts of China, the world’s largest consumer of jewelry, are controlled by Kovid. Demand for this specialty has grown significantly as a result of recent corporate scandals. There are indications that demand is declining and gold prices may fall temporarily.
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Gold prices were at their highest level this month on April 18-19. A sovereign was priced at Rs 39,880. Then the price went down. From April 4 to 6, the sovereign was priced at Rs 38,240. This is the lowest rate this month.
On March 9, gold prices rose to Rs 40,560 per sovereign. This is the highest rate in the last month. But in the afternoon, the price had dropped to Rs 39,840.
On March 1, gold was trading at Rs 37,360 per sovereign. This is the lowest rate in March.
Silver price
Silver prices fell in the state. The price of a gram of silver is Rs 68.80. Eight grams of silver is priced at Rs 550.40. Ten grams of silver is priced at Rs 688 and a kilogram at Rs 68,800. Yesterday, the price was Rs 69,000 per kg.
