Demand for gold on Akshaya Tritiya: On the occasion of Akshaya Tritiya, inflation has affected the centuries -old tradition of buying gold and silver. Gold has come up by Rs 100 amidst the possibility of global geopolitical crisis and economic recession. In the last four months, there has been a turnover of Rs 100 crore. It has become expensive by 20,300. Consumer goods will be shorted this year by reaching the level of one lakh rupees per tola. The advance booking rate has been barely 5-10 percent due to high gold prices.
Lack of consumer demand in Sony market
The prices of precious metals have been increasing for the last four months due to global factors. Due to which gold has increased by Rs 100. 1000. In the last four months, while on annual basis Rs. 24500 rupees has become expensive. According to Ahmedabad Choksi Mahajan, no new demand has been observed due to high high gold prices. This year, gold purchases on Akshaya Tritiya will decrease by 50-60 percent. Even today, the price of gold is 250 rupees per kg. It was 1000 rupees. 99000 per 10 grams were recorded. Gold was Rs 100 per kg in Ahmedabad on 22 April. It reached an all -time high level of 101500 per 10 grams. Despite being Akshaya Tritiya yesterday, 70 to 80 percent new buyers have not yet made any advance booking in jewelers. However, the old customers were seen selling and profitable.
Even silver is not being purchased.
Apart from gold on the day of Akshaya Tritiya, buying silver is also important. Usually people who are unable to buy gold buys silver. But this year silver and gold prices remain stable. Silver is also Rs 100 per 10 grams. Its price was stated to be 98000 per kg. As a result, there is a possibility that middle class people will also be deprived of buying silver. Silver has increased by Rs 100 in the last one year. 18000 rupees has become expensive. Therefore, during the Akhtariya festival tomorrow, the demand for gold and silver is expected to decrease by 40 to 45 percent.
Safe investment gained due to these factors
The tariff war and trade war launched by US President Donald Trump has caused a sudden jump in gold and silver prices. The price of precious metals has also risen due to geopolitical crisis. The dollar index has fallen by 9 percent from the beginning of this year. Which has reached a low of the last two years. As a result, institutional procurement in gold and silver increased. Prices have also seen a steady increase due to increased procurement of gold by central banks around the world.
