#Kolkata: Gold traders are making similar requests to EMI and RBI to buy gold. Ukraine’s war pushes the country’s gold market. As soon as the war started, the price of yellow metal skyrocketed. Various gems, including precious diamonds. EMI launchers urge traders to encourage buyers to buy gold.
The impact of the war on the gold market. Gold-diamonds-gems are more expensive. In this situation, the situation is quite awkward. The world economy is shaking again due to the Ukraine-Russia military conflict. The stock market has been in turmoil for the last few days. The prices of gold, diamonds and gems are also rising. A large part of the investors are moving away from risky investments like stocks as soon as the atmosphere of unrest is created in the international arena. As a result, the market is falling. Compared to that time, there is a tendency to invest in gold which is much more secure. Investors grab gold to pour capital. Experts say that the price of 1 cent diamond in war situation is 2600-3000 rupees. Earlier this price was 1200-1400 rupees.
The price of 1 gram of gold has increased by 12 to 16 percent. The prices of various gems including onyx, ruby and emerald have also increased by 15 to 20 percent per rati. Subrata Kar, a jewelery trader in Kolkata, said that in this situation not only buyers but also sellers are in crisis. The war has had a devastating effect on the value of all jewelry. Damage to artisans too. Traders offer to introduce EMI to buy gold. “As long as there is an atmosphere of war, the price of gold, diamonds and stones will continue to rise,” said Shubhankar Sen, co-chairman of the National Expert Committee on Jewelery and Lifestyle. But no one is giving up hope. In this situation and in the future, we are appealing to the Reserve Bank of India to allow business in our industry through EMI. If RBI allows gold trading in EMI, it will be of great benefit to both buyers and sellers.
The issue of installment (EMI) also came up in the discussion at the Gems and Jewelery Summit organized by the Indian Chamber of Commerce in Kolkata. “The Russia-Ukraine war has had a huge impact on the market economy,” said ICC President Pradeep Surekha. We are all waiting for a better day ‘.
Tags: Gold Price