Wednesday, May, 22,2024

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Soaring bullion prices keep customers away

Jaipur: If you were really happy about the surge in bullion prices, think twice. As the prices of gold and silver went through the roof, the bullion markets saw investors withering away resulting in a huge decline in sales of gold & silver.

As the shooting bullion prices kept the buyers away from the sarafa market, the buying and selling in the market was just restricted to jewellery purchases for wedding ceremonies. The impact of the bullion trade was felt in the Jaipur market too.

It is said that these prices have increased due to the increase in international tension, but it has had a direct impact on the markets of India. Traders say that the prices of gold and silver are expected to remain high in the month of April, due to which the possibility of further decline in the current business cannot be ruled out.

The traders also rue the 3% GST that they have to pay on sale and purchase of jewellery items that indirectly inconveniences the buyers.

While the price of 24 carat gold on Thursday is Rs 73,550 per 10 grams, price of 24 carat gold sold in cash is being said to be around Rs 72,000. Similarly, the price of silver is Rs 84,400 per kg, while its selling price in cash is said to be Rs 82,500-82,800 only.

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