look news india
Mumbai: The decline in gold and silver prices in Mumbai Jewellery Market continued at a slow pace today. New demand remained slow. News from the world market was indicating a retreat. The price of gold in the world market was 2484 to 2494 to 2495 dollars per ounce from the low of 2502 to 2503. There is news of increased selling of gold by funds due to the rise in the global dollar index in the world market.
However, due to rise in dollar against rupee in domestic currency market, price fall in jewellery market was limited today, market insiders said. Gold prices in Ahmedabad jewellery market today fell by Rs 100 per 10 gram to Rs 99.50 from 73700 and Rs 99.90 from 73900. While silver prices remained calm at Rs 83500 per kg in Ahmedabad. Silver prices fell by Rs 28.15 to $ 28.32 from $ 28.33, silver prices fell by Rs 28.62 to $ 28.63 per ounce following gold in global market.
Meanwhile, global platinum prices were at $914 to $915 an ounce, down from $912 to $927 an ounce. Palladium prices were at $959 to $963 to $964, up from a low of $972 to 973.
Global copper prices fell 2.84 per cent. Global crude oil prices also retreated. New demand from China remained slow. However, global crude oil prices limited losses amid reports of production cuts in Libya. Brent crude prices were down by $75.44 to $76.09 at $76.83 per barrel.
While the price of US crude was at $ 72.77 from a low of 73.47. Meanwhile, gold prices at Mumbai bullion market today rose by Rs 99.50 to Rs 71,208 from Rs 71,225, while silver at Rs 99.90 rose to Rs 71,494 from Rs 71,511 from a low of Rs 71,409.
Mumbai Silver prices rose from Rs 82,780 to Rs 82,278 without GST. Gold and silver prices in Mumbai were 3 per cent higher than this price including GST. Manufacturing data in China was weak. OPEC countries are considering increasing crude oil production from October.
