Saturday , November 23 2024

Crude oil rises above $89 to new five-month high

Mumbai: Gold and silver rose in Mumbai jewelery market today. World market news was showing progress. Import costs were higher domestically. Crude oil prices in the world market reached the highest level in five months, following which funds buying in global gold increased.

Gold prices witnessed a rise in the world market after a rise in the global dollar index followed by a fall. Globally, gold prices ranged between $2265-$2266 and $2255-2256, while gold prices ranged between $2244-$2245 an ounce. In Mumbai bullion market today the price of gold without GST was Rs 68388 per 10 grams, Rs 99.50 and Rs 68685. While the price of Rs 99.90 rose to Rs 68663 from Rs 68961, the Mumbai silver price without GST rose to Rs 76127 from Rs 75111.

In the global market, silver prices ranged from $25.73 to $25.63 to $25.64, with a high of $24.94 to $24.95 per ounce. After China, America's economic figures showed signs of being good. Meanwhile, silver prices rose by Rs 500 to Rs 76,000 in the Ahmedabad market today, while gold prices in Ahmedabad rose by Rs 99.50 to Rs 70,800 and by Rs 71,000 to Rs 99.90.

Meanwhile, global crude oil prices hit a five-month high today. Brent crude prices ranged from $89.08 to $88.55 a barrel, hitting a high of $86.59, while US crude prices ranged from $85.46 to $84.94, hitting a high of $82.83. In March, OPEC's daily production declined by 50 thousand barrels and the production in March fell to 264.20 lakh barrels per day.

Prices hit a new high since October 2023 ahead of the OPEC meeting on Wednesday. Meanwhile, global copper prices rose 0.82 per cent today. Platinum prices rose from $927 to $928 while palladium prices rose from $1029 to $1021 to $1022.