Friday , June 14 2024

The rise of red rice in gold continues. Gold reached Rs 700 in Ahmedabad. 76,200 at new high

Gold rose for the second consecutive day on no change in geopolitical sentiments. At the same time, despite the rise in silver prices globally, silver prices remained stable in the domestic market on Wednesday. 24 carat gold price in Ahmedabad is Rs. It was increased to Rs 700. Reached the highest level of Rs 76,200 per 10 grams. Over the course of two days gold was worth Rs. There has been an increase of 1200. The price of silver is Rs 10 per kg. It had become 84,000. In the international market, the spot price of gold on Comex was trading at $ 2401.50 an ounce late in the evening after a rise of $ 2410.50. Similarly, silver was trading at $28.53.

According to experts, in view of the Iran-Israel dispute, investors are shifting their investments from risky areas and investing in gold as a safe investment. The domestic and global bullion markets are expected to remain volatile until the situation between these two countries improves. Considering the impact on trade, there is a possibility of further decline in India's jewelery exports due to reduced international demand.

15 percent decline in jewelery exports

According to Gem and Jewelery Export Promotion Council (GJEPC) data, the country's gem and jewelery exports fell 11.85% to Rs 19,037.47 crore in March this year. Last year in March Rs. Exports worth Rs 21,404.99 crore were made. Similarly, during the financial year 2023-24, the export of gems and jewelery will be Rs 2.5 crore. 15% decline to Rs 3,01,926 crore. Rs 2,65,188 crore has been registered. Experts believe that the decline in exports in the jewelery segment has been due to a continuous decline in demand from China and slow demand from the US.