look news india
Mumbai: A fall in gold and silver prices was seen in the Mumbai jewelery market today, the last day of 2024. However, market experts say that on an annual basis, the price of gold has increased by 26 percent and the price of silver has increased by 34 to 35 percent.
The record of 10 year annual increase in gold and four years in silver has been broken. In the jewelery market in Ahmedabad today, gold fell by Rs 200 per 10 gram to Rs 99.50 at Rs 78,500 and Rs 99.90 per kg at Rs 78,700, while silver fell by Rs 1,000 to Rs 86,500 per kg in Ahmedabad.
On the last day of the year, funds were seen selling gold in the world market. Globally, gold prices were estimated to be steady at $2,612 an ounce as against a low of $2,619. Behind gold, global silver prices also fell to 28.79 from 28.92 to 28.93 an ounce from 29.47 to 29.48 an ounce. Global copper prices were down 0.88 percent today. The market was eyeing the incentives given in China. Meanwhile, the recovery in global crude oil prices continued at a slow pace.
At the beginning of the new year, the market’s eyes were on the OPEC meeting. Brent crude prices were at a high of $74.73 to $74.52 a barrel, while US crude prices were at a high of $71.74 to $71.56.
Meanwhile, global palladium prices fell to as low as $900 an ounce today. Which was last $905. The price of platinum was $909. In Mumbai bullion market today, gold prices increased from Rs 75,889 to Rs 99.50 and closed at Rs 75,857 without GST.
While the price of 99.90 was Rs 76195 to Rs 76045 to Rs 76162. In Mumbai, without GST, silver price ranged from a low of Rs 87175 to a high of Rs 85680. Gold and silver prices were volatile in the new year and were likely to go higher.