Wednesday , November 6 2024

Bullish trend in gold due to fall in dollar: Fall in silver also seen

Mumbai: Today, gold prices stopped rising in Mumbai jewelery market and continued to fall adversely. A negative impact was seen on the jewelery market due to the sharp fall in the value of the dollar against the rupee in the currency market. Market experts were predicting lower import costs due to the fall in the dollar. Today the price of dollar fell by 13 paise to Rs 82.85 in Mumbai currency market.

In the Ahmedabad jewelery market today, gold prices fell by Rs 300 per 10 gram to Rs 64,000 from Rs 99.50 and Rs 99.90 to Rs 64,200, while Ahmedabad silver prices fell by Rs 500 to Rs 71,500 per kg. Meanwhile, gold prices in the world market today ranged from a low of 2025 to a high of $2034 to 2028 to 2029 per ounce. Global silver prices were at a high of $22.86, up from $22.86 and at $23.16, at $23.04 and at $23.05. Platinum prices ranged from low of $949 to high of $973 to $964 to $965.

Global copper prices rose 0.21 percent today. Global crude oil prices made a surprise comeback. The price of Brent crude increased from 82.14 to 83.50 to 82.91 dollars per barrel. US crude prices rose to $76.86 from $78.42 to $77.84. However, there was news that the stock of crude oil in America has increased from 71 to 72 lakh barrels and the stock of gasoline in America has also increased.

In Mumbai bullion market today, the price of gold without GST was Rs 61906, Rs 62009 at 99.50, Rs 62155 at 99.90 and Rs 62258 at 99.90, while the price of silver in Mumbai was Rs 70708, Rs 70310 at Rs 70396.