Gold prices drop sharply...? Situation Today..?

Sowmiya Sriram
Gold prices drop sharply...? Situation Today..?

In Chennai, yesterday 22-carat gold was sold for Rs 5025 per gram. Shaving gold sold for Rs 40,200. In this condition, the gold is sold at Rs 4957, which is down by Rs 68 today. 8 grams of gold fell by Rs 544 which is selling for Rs 39656. 24 carat gold sells for Rs 5356 per gram. 8 grams of gold sells for Rs 42848. A gram of silver sells for 73.50 rupees. A kilo of silver sells for Rs 73,500.
When the economic downturn strikes, stock markets in the economic sector tend to decline. In such an environment investments in gold will increase. If this situation continues, the price of gold will rise further. The reason is that due to panic among investors, investments in gold will increase. The price of gold may increase whenever investments increase. In that sense, the stock market continues to fall due to the war in Ukraine. So the price of gold has started to rise.
Investment in gold has risen sharply due to the Russia-Ukraine war. So far, there is no sign of war in Ukraine. The stock market has been hit hard by Western sanctions on Russia. This is expected to increase further. Spot silver was up 1.7% at $ 26.09 an ounce and platinum was up 2.3% at $ 1,147.19.
Ukraine wants the Internet in the US-led NATO alliance. But russia does not want that. So russia is waging war to occupy Ukraine. The war between ukraine and russia is going on for many weeks. Russian President Vladimir Putin has said he has no plans to end the war until ukraine surrenders to Russia. Thus, the prices of crude oil and gold are rising sharply.

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