Gold Trade Plummets in Mumbai's Zaveri Bazaar as Demand Fades

MUMBAI: As a result of the central government's increase in import duty on gold, the price of gold is reaching its seventh peak. As a result, people who buy gold or invest in gold are now running away from gold. They are avoiding gold. There has been a sudden decline in gold trade in Mumbai's Zaveri Bazaar. After Prime Minister Modi's appeal, the daily trade has come down from 1400 crores to half. In the last four days, where there was a trade of 4200 crores in gold, it has come to a halt. The glow of gold in Mumbai's Zaveri Bazaar is fading a little. There is an unexpected calm in the market where morning deals worth crores of rupees were made. The business of 1400 crores of gold is being sold on the streets of the market has suddenly come down.