look news india
Mumbai: Gold and silver prices continued to decline in Ahmedabad and Mumbai jewellery markets today. New demand remained slow. In the collapsing market, consumers were adopting a wait and watch approach. There was talk that the fall in crude oil in the world market has increased the pressure on the price of gold. Globally, gold prices were at a low level of 2494 to 2495 to 2471 to 2488 to 2489 dollars per ounce.
Meanwhile, global crude oil prices have fallen by 4-5 per cent to a nine-month low. Gold prices fell by Rs 200 per 10 grams to Rs 73,500 at 99.50 and Rs 73,700 at 99.90 in Ahmedabad jewellery market today, while silver prices in Ahmedabad rose by Rs 1,000 to Rs 82,500 per kg.
Following gold in the world market, silver prices fell from $27.77 to $28.17 to $28.18, from $28.32 to $28.33 per ounce.
Meanwhile, global Brent crude oil prices fell from $76.09 per barrel to close at $72.63-$73.84 per barrel, while US crude oil prices fell from $72.77 to close at $69.19-$70.51 per barrel.
Global copper prices were soft by 0.38 per cent today. Global platinum prices were at $916. Palladium was at $944. Meanwhile, gold prices in the Mumbai bullion market today rose from Rs 71,208 to Rs 71,010 at Rs 99.50 and silver from Rs 71,280 to Rs 71,494 at Rs 99.90. Silver prices in Mumbai fell from Rs 82278 without GST to Rs 81038 to Rs 81337.
News from across the ocean came that the sharp fall in crude oil prices has completely reversed the price correction seen so far this year and prices have now returned to what they were at the beginning of the year.