New Delhi, 7 April (IANS). The impact of American tariff is now being seen on the commodity market. The prices of important commodities like gold and crude oil, which are considered important globally, have seen a huge decline.
According to the Indian Bullion Jewelers Association, the price of 24 carat gold on Monday has come down by Rs 2,613 to Rs 88,401 per 10 grams, which was Rs 91,014 on Friday. Along with this, the price of 22 carat gold has come down to Rs 86,280 per 10 grams and 18 carat gold to Rs 78,680.
Apart from this, there has also been a huge decline in silver prices. The price of one kg of silver has been reduced by Rs 4,535 to Rs 88,375 per kg. Earlier, the price of silver was Rs 92,910 per kg.
The reason for the decrease in gold prices is to reduce the price internationally. The price of gold has come down from its highest level to $ 3,060 an ounce of $ 3,201 an ounce. A similar situation has been seen in silver. Where the price has fallen from the highest level of $ 35 an ounce to $ 30.40 an ounce.
Crude oil prices have also been seen by US President Donald Trump since the recipe of Reciperook Tariff.
On Monday, Brent crude was 2.12 percent weakness to $ 64.24 per barrel and WTI crude fell by 2.24 percent to $ 60.61.
Crude oil prices have fallen by about 14 percent after the reciperook tariff is imposed. The decline in crude oil is the reason for increasing the chances of recession in the global economy with the US, which may reduce the demand for crude oil.
-IANS
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