look news india
Mumbai: Gold and silver prices witnessed a sharp fall from the highest levels in Mumbai jewellery market today. As domestic import cost lagged behind world market, its impact was seen mild on jewellery markets. Gold prices fell by Rs 1500 per 10 gram in Ahmedabad jewellery market today, while Ahmedabad silver prices fell by Rs 2000 per kg. Gold prices in Anadwada fell by 99.50 to Rs 74800 and by 99.90 to Rs 75000, while silver prices in Ahmedabad fell to Rs 91000.
Meanwhile, global gold prices are forecast to fall to a low of $2400 to $2413 to $2414 per ounce from a range of $2355 to $2363 to $2364 per ounce. Behind gold, global silver prices were also lower at $30.16 to $30.64 to $30.65 per ounce with a range of $31.61 to $31.62. As inflation remains high in the US, the chances of further interest rate cuts have diminished further.
According to Goldman Sachs CEO Solomon, there is no possibility of interest rate cuts in the US this year! This was followed by a rise in the global dollar index and bond yields, indicating that global gold prices came under pressure. The price of platinum in the world market was in the range of 1020 to 1038 to 1039 dollars and a minimum of 1054 to 1055 per ounce. While palladium prices were indicated to reach 975 to 991 to 992 dollars in the range of 1004 to 1005.
Global copper prices were down 0.22 per cent today. Meanwhile, global crude oil prices showed signs of recovery from the setback today. Brent crude oil prices rose to $82.71-82.52 per barrel from $82.02. US crude prices were at $78.37-78.20 from a high of $77.88.
Crude was at a lower level. Meanwhile, in Mumbai bullion market today, gold prices of 99.50 without GST remained at a low of Rs 72,500 to Rs 72,534 and a low of Rs 73,783. While the price of 99.90 was Rs 74080 to Rs 72791 to Rs 72826. Silver prices in Mumbai remained at Rs 92886 to Rs 89410 to Rs 90055 without GST. The prices of gold and silver in Mumbai were 3 percent higher than these prices including GST.
