After US President Donald Trump started a tariff war, other countries have also retaliated, causing the possibility of global recession and increased pressure on stock markets. On Monday, the global commodity market saw a huge decline, and it also affected the prices of gold and silver. So is this now the right time to buy gold and silver? Can jewelery prices fall further, and will it be appropriate for children to buy gold and silver? Let us know the answers to these questions.
Gold prices fall
After the US started tariff war and counter -tariffs by other countries, there was a huge decline in gold and silver prices on Monday. According to the report of Zee Business, the price of 24 carat gold declined by Rs 2613 on Monday. On Friday, the price of 24 carat gold was Rs 91,014 per tola (10 grams), while on Monday it was reduced to Rs 88,401. Similarly, the price of 22 carats and 18 carat gold also decreased. On Monday, the price of 22 carat gold was Rs 86,280 per tola and the price of 18 carat gold was Rs 78,680 per tola.
Silver prices also fall
The fall in the international market also affected silver prices. Silver prices fell by about four and a half thousand rupees per kg. On Friday, the price of silver was Rs 92,910 per kg, while on Monday it was reduced to Rs 88,375 per kg.
The reason for the fall in gold and silver prices
The main reason for the fall in gold and silver prices is believed to be the incident of demand in the international market. On Monday, the price of gold in the international market declined from $ 3201 an ounce to $ 3060 an ounce, while silver fell from $ 35 an ounce to $ 30.40 an ounce. This is the reason why jewelery prices decreased in India and the world’s commodity markets.
Is this the right time to buy jewelery?
Although the tariff war has led to a decline in gold and silver prices, despite this, people should wait a little longer to buy gold and silver. In the coming days, tariffs may be more strict, which will affect the international commodity market, and gold and silver prices may fall further. In such a situation, buying gold and silver after a few days can benefit more. However, it is less likely that the levels of these prices will reach the prices of two years ago.
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The post falls in gold and silver prices: Is it the right time to shop now? First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
