look news india
Mumbai: Gold and silver prices fell in Mumbai's jewellery market today. New demand remained slow. Funds were seen selling more on the news of the global market. Gold prices in the global market ranged from 2503 to 2508 to 2509 dollars and remained at the lowest level of 2525 to 2526 per ounce.
Due to the fall in the world market, the import cost also decreased at the domestic level and due to the lack of new demand, people were selling at a higher price to make a profit. In Mumbai bullion market today, the price of gold per 10 grams without GST was Rs 71,475, Rs 99.50 at Rs 71,754, while the price of gold was Rs 71,762 at Rs 72,042 at Rs 99.90.
Mumbai Silver prices rose from Rs 86,191 per kg to Rs 85,962 without GST. Gold and silver prices in Mumbai were 3 percent higher than this price including GST. Meanwhile, in the global market, silver prices also fell by 30.01 to 29.77 to 29.95 to 29.96 dollars per ounce following the fall in gold prices.
As the crude oil prices in the world market fell from the highs, its impact was visible on the global gold prices. Meanwhile, global platinum prices were in the range of $977-978 from a low of $954 to $961-962 per ounce, while palladium prices were in the range of $973-974 from a low of $957 and a high of $981 to $974-975 per ounce.
Meanwhile, global copper prices witnessed a marginal improvement. Crude oil prices in the world market kept rising and falling. Brent crude was at $80.59 to $80.77 after hitting a high of $81.59 a barrel. New demand remained low at higher levels. US crude prices were lower at $76.50 to $76.69 after rising to $77.07 to 77.48.
After rising around 6-7 per cent in last 3 days, crude oil prices in the world market retreated today due to lower production in Libya and renewed war in Middle East and Russia-Ukraine.
Meanwhile, in the jewellery market of Ahmedabad, gold was quoted at Rs 74,000 at 99.50 and Rs 74,200 at 99.90. While the price of silver in Ahmedabad was quoted at Rs 86000. With the profit figures of industries in China coming out well today, market experts around the world were expressing hope that the economy is coming out of recession.
