Saturday , November 23 2024

Gold and silver prices fell before Dussehra, now seasonal demand expected to increase

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Mumbai: Gold and silver prices continued to fall in the Mumbai jewelery market today. However, world market news was showing unbalanced fluctuations. It was reported that the prices of gold in the world market ranged from 2605 to 2623 to 2624 dollars, 2618 to 2619 dollars per ounce. The demand for Dussehra was awaited at home.

Lower import levels affected market prices. In the Ahmedabad market, gold prices were at Rs 99.50 at Rs 77300 and Rs 99.90 at Rs 77500, while Ahmedabad silver prices fell by Rs 500 per kg to Rs 89500. In the global market, the price of silver ranged from 30.53 to 30.54 per ounce, with a low of $ 30.36 and a high of 30.81 to 30.63 to 30.64 dollars an ounce.

A slow decline was seen in global copper prices. Meanwhile, global platinum prices rose to $962-963 an ounce from $948 to $949 an ounce. Palladium prices rose from $1025 to $1026 to $1060 to $1053 to $1054.

News of inflation in the United States being higher than expected was received today and as a result the possibility of interest rate cuts being halved instead of halved was discussed in the world markets today. Meanwhile, in Mumbai bullion market today, gold prices without GST stood at Rs 99.50, Rs 74,538 at Rs 74,709 and Rs 7,500 at Rs 99.90 at Rs 74,838. Mumbai silver prices rose from Rs 88661 to Rs 88353 without GST.

Gold and silver prices in Mumbai were 3 percent more than this price including GST. Meanwhile, the prices of crude oil increased in the world market today. Brent crude prices rose from $77.14 to $77.86 a barrel, while US crude prices rose from $73.50 to $74.20 a barrel.