look news india
Mumbai: The bullion market of Mumbai remained officially closed today as it was Saturday. However, in the closed market, gold and silver prices stopped rising behind the world market and witnessed a reaction decline. As world market prices fell, the rise in domestic import costs stopped. While new demand was also slow, the boom led to sales.
There was talk of increased selling of funds in the global gold market due to increase in the global exchange rate of the dollar against various major currencies and also increase in bond yields. After Vishwabazar, today gold prices in Ahmedabad jewelery market fell by Rs 400 to Rs 99.50 to Rs 74,900 and from Rs 75,100 to Rs 99.90.
Whereas in Ahmedabad the price of silver fell by Rs 1000 per kg today to Rs 84 thousand. Gold prices in the world market were at the lowest level of 2365 to 2366 per ounce and remained at 2345 to 2346 per ounce with direction of 2360 to 2361 dollars at the end of the week.
Behind gold, global silver prices were also lower from $28.45 to $28.46 to $28.04 to $28.05 an ounce and finally to $28.18 to $28.19. Global gold and silver prices were negatively impacted as crude oil prices fell from highs and global copper prices also witnessed a slow decline after a rally.
Meanwhile, behind the world market, the price of dollar increased by Rs 83.49 against the rupee in Mumbai currency market today and in the closed market it was trading around Rs 83.59 to 83.60. The rupee came under pressure in the currency market today despite indications of increase in foreign exchange reserves in India by $ 3.66 billion.
In Mumbai bullion market today, gold prices without GST fell from Rs 99.50 to Rs 72,716 and from Rs 99.90 to Rs 72,750 to Rs 73,080. Mumbai silver prices today ranged from Rs 84215 to Rs 83600 without GST. Gold and silver prices in Mumbai were three percent more than this price including GST.
The dollar appreciated against the rupee and was trading at Rs 83.59 to Rs 83.60. Meanwhile, platinum prices in the world market today rose from a high of $992 to $993 to $1,000 to $1,001 an ounce and finally touched $997 to $998. Palladium prices ranged from a low of $992 to $993, to a low of $970 to $971 and finally to a high of $980 to $981. World market players now had their eyes on the inflation data to be released in America on Wednesday.