look news india
Mumbai: The bullion market was officially closed today due to Saturday in Mumbai's jewellery market. However, the fall in gold and silver prices stopped in the closed market and the reactive correction continued. The news of the world market was showing strength from the falling prices and due to this, fresh selling was expected at lower levels at the domestic level as well. Meanwhile, after the reduction in the import duty on gold and silver in the budget, the possibility of increase in GST is being discussed in the market and its effect was also seen positively on the jewellery market today.
In Ahmedabad market today, the price of gold rose by Rs 500 per 10 grams from Rs 99.50 to Rs 72000, while the Ahmedabad silver price stopped falling and reached a high of Rs 82000 per kg. In the world market, the price of gold rose from 2373 to 2374 per ounce, the price rose from 2390 to 2391 and at the end of the week the price rose from 2387 to 2388 dollars. Behind gold, the global price of silver also rose from 27.76 to 27.77 per ounce, the price rose from 28.07 to 28.08 and finally from 27.92 to 27.93 dollars.
Industrial profit data in China was better than expected. There was talk of increased buying of gold by funds globally due to the fall in the dollar index in the world market. Meanwhile, global platinum prices rose from 932 to 933 per ounce to 943 to 944 and finally closed at $940 to 941 per ounce. Palladium price rose from 902 to 903 and rose from 919 to 920 and finally closed at $905 to 906. Copper prices globally also closed with a slow recovery over the weekend. The global dollar index fell to 104.21 and was last at 104.32.
Meanwhile, in the Mumbai bullion market today, the price of gold without GST at 99.50 rose from Rs 67,858 to Rs 68,350, while at 99.90, the price rose from Rs 68,131 to Rs 68,650. The price of silver in Mumbai rose from Rs 81,271 without GST to Rs 81,500. The price of gold and silver in Mumbai was 3 per cent higher than this price including GST.
Meanwhile, global crude oil prices remained under pressure. Brent crude prices fell from 81.92 per barrel to 80.33 per barrel to 81.13 dollars, while US crude prices fell from 77.95 per barrel to 76.19 to 77.16 dollars. New demand from China remained slow.
