Lucknow: The war between Ukraine and Russia continues to have an impact on the gold market. The rate fluctuates between increasing and suddenly reducing. While the rate of gold in Lucknow had risen to around Rs 2300 per tola on February 24, it had fallen to around Rs 2200 on February 25.
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Gold rate in Lucknow was Rs 51800 per tola on Wednesday, and it rose to Rs 54100 per tola on Thursday. There was a 2300 rupee increase, and gold would be 2200 rupees cheaper on Friday, reaching Rs 51900 per tola.
The global economy is affected at a vast level because of the war between Ukraine and Russia. According to experts, the gold price will grow rapidly if the war continues and the rate of gold will reach 65 to 70000 per tola.
Not the right time to invest in Gold
According to experts, now is not the time to invest in gold. Gold should not be purchased until a cease-fire has been reached. The rates will continue to rise and fall in this manner. Only those who play shares invest money in it, according to businessman Vishal Gupta. Within an hour, it has both profit and loss. The common man, on the other hand, should avoid it. He said that sales had dropped by around 60% in the last four days.
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According to Adesh Jain, a Chowk businessman, the helper is no longer required. As a result, sales had already begun to decline. Sales of gold will continue to fall as the price rises. The average person’s shopping will come to an end, leaving just the stock market to keep them occupied.
