look news india
Mumbai: The dollar index has gained momentum as the clouds of war between Israel and Iran continue to loom and March retail sales data in the US has raised the possibility of interest rate cuts. As the dollar gained momentum in the global market, gold and silver retreated from highs, but domestically, gold and silver recovered as the dollar hit new highs against the rupee. Ahmedabad Gold Rs. New high of 75500 seen.
Customs authorities have drastically increased the tariff value to levy import duty on gold. Crude oil prices remain strong due to news of improvement in China's economy. In the domestic market, gold was priced at Rs 73302 at 99.90 per ten grams in Mumbai market without GST, while at 99.50 it was priced at Rs 7308. Without GST, prices were 3 percent higher. The price of silver .999 per kg was Rs 83213. With GST, prices were said to be three percent higher.
In Ahmedabad market, gold was quoted at Rs 99.90 per ten grams, Rs 75,500 and Rs 99.50 per ten grams, Rs 75,300. A new high level of gold has been seen in Ahmedabad. Silver prices rose by Rs 1,000 to Rs 84,000 compared to Monday's price of Rs.999 per kg.
Customs authorities have significantly increased the tariff rate to levy import duty on gold and silver imports. The tariff price of gold per ten grams has been increased from $747 to $773, while the tariff price of one kilogram of silver has been increased from $900 to $939. The increase in effective import duty of the precious metal is calculated with the increase in the tariff value.
In the global market, gold was seen ranging from $ 2392.22 to $ 2363.07 per ounce. By late evening the price was $2370. Till late evening, silver was at $ 29.02 an ounce and below it was at $ 28.23.
Due to continuous fall in the local stock market, high crude oil prices and increase in the dollar index in the world market, the rupee reached a new low against the dollar. The dollar rose seven paise to reach a new high of Rs 83.53. The pound fell 17 paise to Rs 104.02 and the euro fell 10 paise to Rs 88.81. In the global market, the dollar index was seen at the level of 106.18 after 106.44 late in the evening.
China's economic growth rate in the March quarter was better than expected at 5.30 percent, while expectations of increase in demand for crude oil in China kept prices strong. The price of Nymax WTI crude oil was $ 84.85 per barrel while the price of ICE Brent crude oil was $ 89.59.