look news india
Mumbai: Gold and silver prices in Mumbai's jewellery market today again declined after a surge. The global market news showed a sharp sell-off. Global market indicated gold prices to be in the range of 2319 to 2320 dollars an ounce, lower at 2330 to 2331 dollars an ounce, higher at 2304 to 2305 and higher at 2319 to 2320 dollars an ounce.
Looking at the rise in the dollar index and bond yields globally, there were indications that this year interest rates in the US would be cut only once instead of three times in the Federal Reserve meeting. Meanwhile, silver prices fell by Rs 500 to Rs 90,500 per kg in the Ahmedabad market today.
In Ahmedabad, gold prices stood at Rs 73,800 at 99.50 per 10 grams and Rs 74,000 at 99.90 per gram. Following gold in the global market, silver prices also fell from 29.86 to 28.84 to 29.42 to 29.43 dollars per ounce. As crude oil reserves in the US increased by 37 lakh barrels and crude oil prices fell, its effect was seen on global gold prices.
Meanwhile, copper prices fell by 0.59 per cent in the global market today. Brent crude oil prices fell to $81.80 to $82.18 per barrel from a low of 82.80. US crude prices were at $77.67 to $77.99 from a low of 78.55. Platinum prices were at $969 to $944 to $957 to $958 per ounce in the world market. Palladium prices were at a low of $911 from $893 to $910 to $911.
Meanwhile, in the Mumbai bullion market today, gold price at 99.50 rose from Rs 71,297 to Rs 71,227, while at 99.90 rose from a low of Rs 71,580 to Rs 71,501 to Rs 71,513. Mumbai silver prices were at Rs 87845 to Rs 87847 from a low of Rs 88129 without GST. Gold and silver prices in Mumbai were 3 per cent higher than these prices including GST.
