look news india
Mumbai: There was a huge fall in precious metals domestically, lagging behind the world market. Mumbai Gold fell by more than Rs 1,900 while silver fell by more than Rs 2,600. Ahmedabad silver price was Rs 3500. Fund houses sold the global precious metal due to the strengthening dollar. The softening trend in crude oil also continues due to the expectation of reduced demand.
Domestically, the Mumbai jewelery market was trading at Rs 1,940, down by Rs 1,940 excluding GST from Monday’s closing price of Rs 99.90 per ten grams. 99.50 The price of gold was said to be Rs 74600. Prices increased by three percent due to GST. The price of silver .999 per kg fell by Rs 2607 to Rs 88252 per kg. Prices increased by three percent due to GST.
In the Ahmedabad market, gold at 99.90 per 10 grams fell by Rs 1,900 to Rs 77,600, while the price of 99.50 per 10 grams was quoted at Rs 77,400. The price of silver .999 per kg fell by Rs 3500 to Rs 89500 compared to Monday.
Late evening in the global market, gold fell by more than $ 15 per ounce to $ 2,603 per ounce. Gold was seen breaking the level of $2600 at 2589.77. The price of silver also remained at $30.41 per ounce. Among other precious metals, platinum was quoted at $955 an ounce while palladium was quoted at $966. Fund houses made purchases in dollars, due to which gold prices are softening. Due to concerns about rising inflation in America, money is flowing towards the dollar.
Crude oil prices were under pressure after the Organization of the Petroleum Exporting Countries (OPEC) cut expectations for growth in crude oil demand for the current and next year for the fourth consecutive month. OPEC has cut estimates due to the slowdown in China, a major consumer of crude oil. After OPEC’s estimate, Nymax WTI crude oil was at $ 68.50 per barrel while ICE Brent crude was at $ 72.44 per barrel.
