Bilateral jumps in gold prices amid the war effect
- Bullion Bits ઃ Dinesh Parekh - According to experts, by the end of this year, the price of gold in the world market is likely to exceed 200 an ounce. News of the end of the war between Russia and Ukraine in the international market sent gold prices plummeting to ૪૫ 20-2 an ounce on Tuesday, with New York's Comex market quoting ૮૯૩ 15 an ounce, after which the price continued to hover around ૯૩૬ 15 an ounce. It bounced back from ૯૪૯ 15 to 120, and finally to ૯૨ 151 to 15. Everyone started buying gold in the hope that the US job data would improve the financial situation. In addition to the importance of store value hidden in gold, increased demand for gold began to buy gold at lower prices. The fight has had a serious impact on the gold jewelry trade, with reports from Dubai saying that the Dubai gold market has seen a decline in consumer mobility and a decline in jewelry sales. Money can be made by buying. Orders from gold jewelry exporters began to be canceled during the wa