look news india
Mumbai: Today, the price of silver came down from the peak due to record rise in silver price in Mumbai's jewelery market. Reactionary price cuts continued in gold also. World market news was indicating a retreat.
However, prices remained subdued on news that the Indian government has increased the tariff value used as the benchmark for calculating import duty on silver imported into the country and this has led to an increase in the effective import duty of silver. In the market today. News of increasing the tariff value of silver from $919 to $1028 per kg was received from Delhi. There was also news that the government has maintained the tariff value of gold at $ 758 per 10 grams.
Gold prices fell by Rs 100 per 10 gram to Rs 99.50 to Rs 76,300 and Rs 99.90 to Rs 76,500 in the jewelery market in Ahmedabad today, while Ahmedabad silver prices stopped rising and remained sluggish at Rs 93,000 per kg. Meanwhile, in the world market, gold prices were at a high of 2430 to 2431 dollars an ounce after hitting a low of 2404 to 2405 dollars, 2413 to 2414 dollars an ounce. Global silver prices were in the range of $31.61 to $31.62 an ounce after hitting a high of $32.20 an ounce. Global crude oil prices fell to a three-month low.
In the world market, Brent crude oil prices were at a low of $82.53 from $81.58 per barrel, while US crude oil prices were at a low of $78.70 from $77.35 to $77.88. Copper prices in the global market fell by about 3.25 per cent from its highest level, which had a negative impact on global silver prices. Meanwhile, global platinum prices increased from $1045 to $1061 per ounce to $1054-1055. Palladium prices were at a low of $1037 to $996 from $1004 to $1005.
Silver prices in Mumbai bullion market today ranged from Rs 92886 to Rs 92886 without GST and Rs 92873 to Rs 93094. Gold prices in Mumbai were Rs 73,783 to Rs 73,913 at 99.50 without GST and Rs 74,080 to Rs 74,214 at 99.90 with GST. Gold and silver prices in Mumbai were 3% higher than these prices including GST.
