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Thursday 26 November 2020

200 kg of gold sold daily in Ahmedabad bullion market as gold prices fall

Bullion Market:200 kg of gold sold daily in Ahmedabad bullion market as gold prices fall




The price of 24 carat gold fell by Rs 1,500 to Rs 50,700



Gold and silver prices plummeted with 90 percent success in the corona vaccine. Ahmedabad saw a shortage of goods being bought in bullion gold. Which has led to a double increase in premium prices. Traders are sitting in the retail markets as wedding shopping is scarce. While bullion traders are selling 200 kg of gold daily.


The bullion market crashed in the latter part of the year on the back of an increase in corona cases worldwide, with favorable reports of corona vaccine success globally. According to the report, gold prices in the market rose by Rs. The price of 24-carat gold, which ranges from Rs 1,200 to Rs 1,500, is Rs. 50,700. While in silver, Rs. 1800 down to Rs. Reached the level of 62,500. At such times, traders are telling jewelers to sell less gold and silver jewelry.


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About 20 percent of consumers are buying gold bars and coins,
said Nishant Zaveri , a bullion market trader, adding that the market in bullion has been one and a half times better since the Diwali holiday. In Ahmedabad alone, 200 kg of gold is being sold daily. In which traders are seen buying more than traders. While only 20 percent of consumers are buying gold bars or coins.




The wedding season is still not out of a need to buy
Ahmedabad Jewelers Association President liver Soni said that Diwali was a good buy, but do not get out to buy them despite the wedding season.

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