Gold prices will bounce back very soon: Jewellers
| Date :15-Mar-2020 |
Business Bureau :
As the fear of corona virus has gripped the markets across the globe, prices of various commodities are witnessing volatility. Share prices are going down and so are the prices of crude oil at the international level. Gold that has recently touched its all time high of Rs 45,300 per 10 gm is no exception. The price of the noble metal fell by Rs 3,000 per 10 gm in last four days. On Saturday, gold was traded at a price of Rs 41,400 per 10 gms in Nagpur market.
However, the city based jewellers believe that gold price will not see considerable fall. “Gold is always considered as a best option for investment. This concept will remain as it is,” Rajesh Rokde, Secretary of Nagpur Sarafa Association. Rokde also said that the gold prices will once again cross its recent all time high. “Some of the marriage ceremonies are being postponed but they are still buying gold jewelley.
This shows that the demand for gold is still maintained. Apart from this investors are buying gold,” he said. Another jeweller also echoed similar sentiments and said that the footfall in sarafe market has not come down becasue of corona virus fear.