Perspective by Mr. Colin Shah, MD, Kama Jewelry on weekly gold price trends
“The downward spiral in gold prices continued but the fall was marginal prices were lower by 0.02% a slight decrease from the previous week. However, the dip was considerably better than the 1% drop from the week prior.
On the other hand Gold prices rose to Rs 59543.00/ 10 gms in the domestic market. Internationally, gold continues to trade at $1,968.30 per ounce.
A minor pullback in the currency rate of the US dollar has led to some optimism amongst Gold buyers.
In the domestic market, there seems to be a bit of a worry with regard to data projecting a fall this fiscal year in exportation by approximately 10 – 15% this fiscal year. However, with the onset of coming festivities, there seems to be optimism in the rise of purchases towards the end of H2 2023.”
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