Gold fee crosses new milestone of Rs 70,000 per 10 gm

MUMBAI: The speed of 24 carat gold crossed an all-time file of Rs 70,000 per 10 gm April 1. A buzz erupted within the buying and selling circles of Zaveri Bazar on the new milestone. “Today’s retail rate is Rs 70,700 per 10 gm including GST. On Friday it was Rs 68,500 per 10 gm. Global factors are driving up prices,” stated Kanaya Kakad, nationwide director, talent improvement of IBJA (India Bullion and Jewellers Affiliation).Kakad stated costs are anticipated to rise additional to Rs 72,000 inside 10-15 days.”Gudi Padwa April 9 will be a litmus test for buyer sentiment. Customers may take a few days to absorb the news but they will resume purchases because gold is an asset whose value can only appreciate. Also it is the only asset which the buyer controls completely, unlike stock market shares and real estate which are subject to the vagaries of market factors and individual builders,” he stated.One other jeweller Jitendra Jain agreed that merchants anticipated charges to go up additional.

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