look news india
Mumbai: Mumbai gold and silver markets remained officially closed today due to Maharashtra Assembly elections, but private prices remained soft during the day in the closed market here following a fall in the precious metals in the global market. Global markets regained momentum late in the evening, while local private sector remained marginally bullish, as global precious metals prices remained in favor of the downside due to the strengthening dollar. Russia-Ukraine conflict over crude oil prices intensifies.
Mumbai jewelery market remained officially closed due to Maharashtra Assembly elections. But privately, prices in the global market were said to be soft during the day. Without GST, the price was Rs 99.90 per 10 grams, during the day the price was Rs 75,540 and late in the evening it was Rs 75,750. It was said to be three percent more with GST. It was quoted at Rs 99.50 per ten grams. Prices were said to be three percent higher due to GST. Silver was quoted at Rs 99,650 per kg after Rs 90,545 late in the evening.
Behind the world market, softening of prices was also seen in the jewelery market of Ahmedabad. The price of gold 99.90 per ten grams was Rs 78,200 and the price of 99.50 grams was Rs 78,000. Silver was .999 per kg which was 91500 kilowatts.
In the world market, the price of gold was $ 2630 per ounce and the price of silver was $ 31 per ounce. Another precious metal, platinum was at $964 an ounce while palladium was at $1030 an ounce. Dollar index strengthened at 106.60 level, gold retreated.
Despite the increase in crude oil reserves in America by 47.50 lakh barrels, crude oil prices remained stable. Crude oil prices are strengthening due to speculation that the Russia-Ukraine war will take a serious turn any day. Nymax WTI crude oil was at $69.95 per barrel while ICE Brent crude was at $73.75 per barrel. Prices have also strengthened due to Russia-Ukraine tension.