The job market in the US weakened with the weakening dollar, but gold recovered

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(Commerce Rep) Mumbai, Ta. 4 April 2020, Saturday

The impact of the coronavirus on the US in March has led to a drastic decline in employment. And the dollar index was hit at the weekend when the gold bullion rallied. Employment in the United States declined by 1.8 million in March, after an increase of 1.6 million in February. For the first time in March, after falling for 6 consecutive months, employment has declined.

This condition has been observed due to the coronavirus effect. In addition, the unemployment figures have risen to one crore in two weeks. The unemployment rate, which was 8.5 percent in February, has risen to 8.7 percent in March.

In the US, gold closed at $ 8 an ounce in the weekend and silver at $ 1.8. Gold prices in the local backdrop of the global market saw a sharp rise in the private market on Saturday.

Gold, which closed yesterday at Rs 5, without a GST of 5 grams, rose by Rs 5 to close at Rs 5 today, while gold prices rose by Rs 5 to Rs 5. On the back of gold, silver also rose to Rs 5 per kg without GST.

The dollar has been raised by the Indian government to raise customs duty on imports from Rs. All imports will be expensive as the exchange rate increases. The money market was closed on Saturday, but the dollar was trading at Rs. Which was 4.1 on Friday.

Meanwhile, OPEC and Russia were holding firmly in quad oil in anticipation of a cut in production next week. Brent Kudd closed the week at $ 1.8 per barrel, while New York closed at $ 1.8.

Due to coronavirus, the demand for cod oil is going down due to low wages. Given this fact, China and the United States plan to build a strategic reserve, and not so much as the US assume to use its oil tankers for storage.

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