Gold prices fall by Rs 2,500, buying up 2 to 5 per cent despite off-season | 2 to 5 per cent increase in buying despite off-season as gold prices fall by Rs 2,500

Due to rising gold prices in the global market and wedding season in Charotar, the price of gold saw a jump of 5 to 8 thousand. Gold had reached 63 thousand. However, on May 5, the dollar had made a top of 2060 in the world market. After that, gold has fallen to 1918 dollars, it has been said that it has reached 137 dollars in a quarter of a month. The price of silver also reached to 22,63 dollars from the top of 25.67 dollars along with gold, this situation has been created on the prices of the local market. Although the prices came down, despite the off-season, a 2 to 5 percent increase in purchases was recorded.

Nilaybhai Soni, owner of Anand Jewelery Showroom, says that earlier the price of 24 carat pure gold was around Rs 63,000 in the Anand Jewelery Bazaar. However, it has come down to Rs. 60,450 has come up. Thus gold has decreased by three thousand per ten grams. And the price of silver per kg has gone up to 71,460. In this regard, there has been an increase in inquiries regarding the price fluctuation in the showroom. Although Anand district is an NRI hub, in the coming days the demand for gold and silver jewelery will increase due to the festive season and subsequent weddings. Gold has become cheaper in the market today.

Further, according to the information, if we talk about the global market of gold, earlier in the jewelry market on May 5th, 24 carat pure gold was sold at Rs. A new record of 62480 was created. From that day till today Rs. By 2080 the price has fallen. On the other hand, the price of silver is Rs. 74500 after rising to Rs. 71,450 has gone up. Thus, it has also been severely damaged. Due to falling prices, the hope of opening up demand in the retail market is tied to Sony, Mahajan.