The bullion traders of Jaipur had predicted two months ago that gold prices would touch the sky. On Wednesday, gold prices reached a record level of around Rs 98,000 at the bullion market in Jaipur. At the same time, bullion traders estimate that the price of gold in Jaipur will cross 99 thousand rupees today.
Kailash Mittal, chairman of the Jaipur Sarafa Traders Committee, says that gold prices are rising due to tariff war between the US and China. So far, the price of gold has increased by about 20 thousand rupees per gram as compared to last year. He said that due to the increase in gold prices, common consumers are no longer coming to the market, but since it is a season of weddings, only needy people are buying gold at this time.
Meanwhile, bullion businessman Bhim Singh said that the bullion business has come to a complete standstill due to the rising price of gold. He said that the policies of US President Trump have created an atmosphere of uncertainty in the market. This has increased investment in gold in the international market, causing its prices to touch new heights. However, sometimes prices fall due to short selling. He said that the tariff war launched by Trump is also affecting the stock market, which has further increased the prices of gold.
