look news india
Mumbai: After the stability of gold and silver in the global market, slight fluctuations were seen in the precious metal in the domestic Mumbai market also. Gold saw a slight rise from Monday while silver remained slightly soft. After Dussehra-Diwali, traders will keep an eye on the demand for wedding dresses after Dev Diwali next week.
Precious metals are likely to experience short-term volatility following the outcome of the US presidential election. There was a soft atmosphere in crude oil in the global market.
In the local Mumbai jewelery market, the non-GST price of 99.90 ten gram gold stood at Rs 78,566, a marginal improvement from Monday. The price of Rs 99.50 was Rs 78251. Prices increased by three percent due to GST.
Silver price at Rs.999 per kg, which was Rs 94,482 without GST on Monday, was marginally down at Rs 94,261. Prices increased by three percent due to GST. After Dussehra-Diwali, the jewelery market is now eyeing the demand for wedding wear.
The precious metal witnessed stability in the global market amid the presidential elections in America. Gold was at $2741 per ounce while silver was at $32.63 per ounce. After the election results, it is expected to see fluctuations in the prices of precious metals in the global market.
The report said that Iran has decided to increase the production of crude oil by 2.50 lakh barrels per day, but it did not have any significant impact on the prices. The price of Nymax WTI crude oil was $ 71.78 per barrel. The price of ICE Brent crude oil was $75.38. There is a bullish atmosphere in crude oil before the election results in America.