Gold prices continue to fall in the state. Today, the sovereign fell by Rs 320 to Rs 38,560. The price is Rs 4820 per gram. The price of a sovereign has remained at Rs 38,880 for the last four days. Today’s gold price is the lowest this month. At one point, the gold price for a sovereign fell by Rs 3,440 in two weeks from Rs 42,000.
Gold prices fell to $ 1933.37 an ounce in international trade. At one point, gold was trading above $ 2,000 an ounce. Gold prices were hit hard by the US Federal Reserve’s decisions and massive gains.
Russia’s Kovid vaccine test has caused gold in the global market to decline. This was reflected in local markets. In addition, the stimulus package announced by the United States to overcome the COVID crisis also contributed to the fall in gold prices. With this, the demand for gold fell and the dollar strengthened.
Gold prices began to depreciate as the dollar strengthened in global markets. At one point, the dollar returned to a two-year low. Experts say the dollar will appreciate further in the coming days. If this happens, the price of gold will fall again.