Jagran correspondent, Kanpur. Gold silver price crash: The rise in the prices of silver and gold in the last few months and the fall in the last two days has given a big blow to the small traders of the bullion market. The work of the bullion market has also come to a standstill for the last two days due to falling market prices. Bullion traders are now waiting for the Union Budget on Sunday in which there may be an announcement regarding the import duty rates on gold. Kanpur's bullion market will also remain closed on Sunday. Therefore, now the next business will also be held on Monday only. There has been a deep silence in the bullion market for the last two days. Bullion traders were expecting the price of silver to fall in the Katan market but the price will go down by more than 25 percent. that was unexpected. Falling prices have also affected silver futures trading. Silver futures trading came to a complete halt in the market on Saturday. There has also been a decline in the price of gold but the biggest impact has been due to the fall in the price of silver.
On Thursday, January 29, the price of silver was Rs 4 lakh per kg, which fell to Rs 3 lakh fifty thousand on Friday and reached Rs 3 lakh 2 thousand per kg on Saturday. According to market experts, till Saturday evening, silver was sold in the market at Rs 2 lakh 95 thousand. Small businessmen have suffered a major blow as the market price fell by Rs 1 lakh per kg in two days.
A businessman from Kalyanpur said that before the start of Sahalag, new orders are coming at every shop. In such a situation, small traders are also purchasing with bullion from Naya Ganj and Birhana Road. Those who had made the deal in two days have been dealt a severe blow. Ramkishore Mishra, patron of Kanpur Bullion Committee Nayaganj, said that due to the turmoil in the market, small businessmen are facing more problems. A decision regarding custom duty on import of gold and silver may be taken in the budget. Now the next business will happen only after the announcement of the budget.
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