Lucknow: The stock market, as well as the gold market, have begun to face the effects of Ukraine’s prolonged war with Russia. The price of gold has soared while the stock market has fallen. Gold prices in Lucknow have risen by over 2300 per Tola in the previous 24 hours. The rate of gold in Lucknow on Wednesday was Rs 51800 per tola, according to Bullion Trader Vishal Gupta of Chowk Sarafa, and it was the same on Thursday or the rate had reached 54100.
Read also- Investors may move part of their savings into gold due to risk of underperformance of equities
Russia has launched an attack on Ukraine as a result, the world economy experienced a significant boost. The price of gold has risen as the Sensex has declined. According to market experts, if the conflict continues in this manner, the price of gold will rise, and it will not be a huge thing if it reaches 65 to 70000 per tola.
Read also- YSR Telangana Party celebrates registration by EC
As gold becomes more expensive, sales will decline even further. The average person’s shopping will cease, leaving only the stock market to trade. Every day, almost 50 crores of commerce is transacted in Lucknow. There are almost 3000 small and large shops in the area. Aside from that, bullion is traded from Lucknow to the rest of the state.
